Utah Code 59-2-1366. Apportionment of redemption or assignment money
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(1) If property sold to the county under this title is redeemed, or the certificate of sale is assigned, the money received on account of the redemption or assignment shall be distributed as follows:
Terms Used In Utah Code 59-2-1366
- Property: means property that is subject to assessment and taxation according to its value. See Utah Code 59-2-102
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Tax notice charge: means an amount that:(1)(a) a property owner owes to a tax notice charge entity in relation to real property; and(1)(b) the county treasurer lists on the property tax notice in accordance with Section 59-2-1317 or another statutory authorization allowing the item's inclusion on the property tax notice. See Utah Code 59-2-1301.5(1)(a) the original and subsequent taxes, and 40% of interest, penalty, and costs of sale received shall be apportioned to the taxing entities interested, in proportion to their respective taxes;(1)(b) the original and subsequent tax notice charges, and 40% of interest, penalty, and costs of sale received shall be apportioned to the tax notice charge entities interested, in proportion to their respective tax notice charges; and(1)(c) the balance shall be paid to the county.
(2) If a sum less than the taxes, tax notice charges, interest, penalty, and costs is accepted in settlement, the proceeds of the settlement shall be applied, first to the payment of the original and subsequent taxes and tax notice charges, and the remainder, if any, to the payment of interest, penalty, and costs.