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COA rules company not entitled to surplus funds under agreement

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An Owen Circuit judge erred by granting a Colorado company’s petition to claim surplus funds from the tax sale of property belonging to Ora and Leafie Chambers, the Court of Appeals ruled Thursday. The couple signed an agreement that transferred their right of the surplus funds from the sale of their property to Asset Recovery Inc.

In Auditor of Owen County and Treasurer of Owen County v. Asset Recovery, Inc., 60A01-1212-MI-592, the Owen County auditor and treasurer appealed the trial court’s grant of the company’s petition for release of the surplus funds. The purchaser of the Chamberses’ property paid more than the amount required to fulfill the outstanding tax obligations, resulting in surplus of nearly $7,500. The county officials claimed that Indiana Code 6-1.1-24-7.5 invalidates the bill of sale and assignment issued to Asset Recovery.

Under the agreement, the couple would receive nearly $4,500 and Asset Recovery would receive the remainder of the surplus.

The COA found the agreement to be invalid under the statute because it has the primary purpose of paying compensation to recover money deposited in a tax sale surplus fund with respect to property that has been the subject of a tax sale and requires payment of compensation of more than 10 percent of the amount to be collected from the tax sale surplus fund. Asset Recovery would receive 40 percent of the total amount collected from the surplus fund, but is limited to just 10 percent under the law.

“Moreover, as a matter of public policy, the statute is designed to protect the citizens of our state and to regulate the activities of property locator services whose primary purpose is to locate money deposited in tax sale surplus funds by capping the fees at 10 percent of the total amount collected from the surplus fund,” Senior Judge Betty Barteau wrote. “Certainly, elderly property owners are a particular group of the population to be protected by this statute as their vulnerability is often preyed upon. Therefore, it would be error for us to ignore the spirit and objectives of Indiana Code section 6-1.1-24-7.5 by allowing Asset Recovery to be compensated for the recovery of the funds pursuant to the terms of its agreement with the Chamberses.”
 

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  1. A traditional parade of attorneys? Really Evansville? Y'all need to get out more. When is the traditional parade of notaries? Nurses? Sanitation workers? Pole dancers? I gotta wonder, do throngs of admiring citizens gather to laud these marching servants of the constitution? "Show us your billing records!!!" Hoping some video gets posted. Ours is not a narcissistic profession by any chance, is it? Nah .....

  2. My previous comment not an aside at court. I agree with smith. Good call. Just thought posting here a bit on the if it bleeds it leads side. Most attorneys need to think of last lines of story above.

  3. Hello everyone I'm Gina and I'm here for the exact same thing you are. I have the wonderful joy of waking up every morning to my heart being pulled out and sheer terror of what DCS is going to Throw at me and my family today.Let me start from the !bebeginning.My daughter lost all rights to her 3beautiful children due to Severe mental issues she no longer lives in our state and has cut all ties.DCS led her to belive that once she done signed over her right the babies would be with their family. We have faught screamed begged and anything else we could possibly due I hired a lawyer five grand down the drain.You know all I want is my babies home.I've done everything they have even asked me to do.Now their saying I can't see my grandchildren cause I'M on a prescription for paipain.I have a very rare blood disease it causes cellulitis a form of blood poisoning to stay dormant in my tissues and nervous system it also causes a ,blood clotting disorder.even with the two blood thinners I'm on I still Continue to develop them them also.DCS knows about my illness and still they refuse to let me see my grandchildren. I Love and miss them so much Please can anyone help Us my grandchildren and I they should be worrying about what toy there going to play with but instead there worrying about if there ever coming home again.THANK YOU DCS FOR ALL YOU'VE DONE. ( And if anyone at all has any ideals or knows who can help. Please contact (765)960~5096.only serious callers

  4. He must be a Rethuglican, for if from the other side of the aisle such acts would be merely personal and thus not something that attaches to his professional life. AND ... gotta love this ... oh, and on top of talking dirty on the phone, he also, as an aside, guess we should mention, might be important, not sure, but .... "In addition to these allegations, Keaton was accused of failing to file an appeal after he collected advance payment from a client seeking to challenge a ruling that the client repay benefits because of unreported income." rimshot

  5. I am not a fan of some of the 8.4 discipline we have seen for private conduct-- but this was so egregious and abusive and had so many points of bad conduct relates to the law and the lawyer's status as a lawyer that it is clearly a proper and just disbarment. A truly despicable account of bad acts showing unfit character to practice law. I applaud the outcome.

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