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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
SENATE BILL 1478 By: Kirt
AS INTRODUCED
An Act relating to cities and towns; creating the
Oklahoma Land Bank Act; providing short title;
defining terms; permitting municipalities to create a
land bank program; providing terms for the creation
of a board; permitting terms for hiring employees;
providing powers to facilitate land banks; providing
certain exemptions against taxation of land bank
property; providing certain terms of acquisition of
property; clarifying terms of disposition of
property; providing qualification of the financing of
land bank operations; providing terms for the
borrowing and issuance of bonds; requiring compliance
with the Oklahoma Open Meeting Act and the Oklahoma
Open Records Act; clarifying conflict of interest
terms; providing procedure for the creation of land
banks due to natural disasters; providing intent;
providing terms for enforcement of delinquent
property tax; permitting taxing units to sell
property for less than market value; requiring the
sale of property be in accordance with certain
procedures; clarifying the deed of conveyance;
clarifying bulk tax foreclosure terms; providing
terms for quiet title proceedings; providing for
codification; providing an effective date; and
declaring an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-100 of Title 11, unless there
is created a duplication in numbering, reads as follows:
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This act shall be known and may be cited as the “Oklahoma Land
Bank Act”.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-101 of Title 11, unless there
is created a duplication in numbering, reads as follows:
As used in this act:
1. “Board of directors” or “board” shall mean the board of
directors of a land bank;
2. “Land bank” shall mean an entity established or approved by
the governing body of a municipality to acquire, hold, and transfer
unimproved real property for redevelopment under this act;
3. “Land bank jurisdiction” shall mean a municipality that is
authorized to participate in the property tax foreclosure and resale
process and that has the authority to create or approve public
authorities or entities for redevelopment or other public purposes;
4. “Municipality” shall mean a city, village, town, or county
other than a county located wholly within a city;
5. “School district” shall mean a school district as defined
under Oklahoma Statutes; and
6. “Real property” shall mean lands, lands under water,
structures, and any and all easements, air rights, franchises, and
incorporeal hereditaments and every estate and right therein, legal
and equitable, including terms for years and liens by way of
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judgment, mortgage, or otherwise, and any and all fixtures and
improvements located thereon.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-102 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. Any land bank jurisdiction may elect to create a land bank
by the adoption of an ordinance, rule, or resolution as appropriate
to such land bank jurisdiction which action specifies the following:
1. The name of the land bank;
2. The number of members of the board of directors, which shall
consist of an odd number of members, and shall be not less than five
members nor more than eleven members;
3. The initial individuals to serve as members of the board,
and the length of terms for which they are to serve; and
4. The qualifications, manner of selection or appointment, and
terms of office of members of the board.
B. Two or more land bank jurisdictions may elect to enter into
an intergovernmental cooperation agreement that creates a single
land bank to act on behalf of such land bank jurisdictions, which
agreement shall be authorized by and be in accordance with the
provisions of this act.
C. Any land bank jurisdiction and any municipality may elect to
enter into an intergovernmental cooperation agreement that creates a
single land bank to act on behalf of such land bank jurisdiction or
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units and municipality. Such intergovernmental cooperation
agreement shall specify the information required by subsection A of
this section.
D. A school district may participate in a land bank pursuant to
an intergovernmental cooperation agreement with the land bank
jurisdiction or units that create the land bank, which agreement
shall specify the membership, if any, of such school district on the
board of directors of the land bank, or the actions of the land bank
that are subject to approval by the school district.
E. Each land bank created pursuant to this act shall be an
entity established or approved by the governing body of a
municipality in accordance with the laws of this state and shall
have permanent and perpetual duration until terminated and dissolved
in accordance with the provisions of Section 13 of this act.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-103 of Title 11, unless there
is created a duplication in numbering, reads as follows:
This act shall apply only to land banks created pursuant to the
provisions of this act. If any provisions of this act conflict with
other sections of the laws of this state, the provisions of this act
shall prevail.
SECTION 5. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-104 of Title 11, unless there
is created a duplication in numbering, reads as follows:
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A. The initial size of the board of directors shall be
determined in accordance with Section 3 of this act. Subject to the
limits set forth in this section, the size of the board may be
adjusted in accordance with bylaws of the land bank.
B. Notwithstanding any other provision of law, any public
officer shall be eligible to serve as a board member and the
acceptance of the appointment shall neither terminate nor impair
such public office. For purposes of this section, “public officer”
shall mean a person who is elected to a municipal office. Any
municipal employee shall be eligible to serve as a board member.
C. The members of the board shall select annually from among
themselves a chair, a vice chair, a treasurer, and such other
officers as the board may determine, and shall establish their
duties as may be regulated by rules adopted by the board.
D. The board shall establish rules and requirements relative to
the attendance and participation of members in its meetings, regular
or special. Such rules and regulations may prescribe a procedure
whereby, should any member fail to comply with such rules and
regulations, such member may be disqualified and removed
automatically from office by no less than a majority vote of the
remaining members of the board, and that member’s position shall be
vacant as of the first day of the next calendar month. Any person
removed under the provisions of this subsection shall be ineligible
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for reappointment to the board, unless such reappointment is
confirmed unanimously by the board.
E. A vacancy on the board shall be filled in the same manner as
the original appointment.
F. Board members shall serve without compensation and shall
have the power to organize and reorganize the executive,
administrative, clerical, and other departments of the land bank and
to fix the duties, powers, and compensation of all employees,
agents, and consultants of the land bank. The board may reimburse
any member for expenses actually incurred in the performance of
duties on behalf of the land bank.
G. The board shall meet in regular session according to a
schedule adopted by the board, and also shall meet in special
session as convened by the chair or upon written notice signed by a
majority of the members. The presence of a majority of the board
total membership shall constitute a quorum.
H. All actions of the board shall be approved by the
affirmative vote of a majority of the members of that board present
and voting. However, no action of the board shall be authorized on
the following matters unless approved by a majority of the total
board membership:
1. The adoption of bylaws and other rules and regulations for
conduct of the land bank’s business. A majority of the members of
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the board, not including vacancies, shall constitute a quorum for
the conduct of business;
2. The hiring or firing of any employee or contractor of the
land bank. This function may, by majority vote, be delegated by the
board to a specified officer or committee of the land bank, under
such terms and conditions, and to the extent, that the board may
specify;
3. The incurring of debt;
4. The adoption or amendment of the annual budget; and
5. The sale, lease, encumbrance, or alienation of real
property, improvements, or personal property with a value of more
than Fifty Thousand Dollars ($50,000.00).
I. Members of the board shall not be liable personally on the
bonds or other obligations of the land bank, and the rights of
creditors shall be solely against such land bank.
J. Vote by proxy shall not be permitted. Any member may
request a recorded vote on any resolution or action of the land
bank.
SECTION 6. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-105 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A land bank may employ, on a permanent or temporary basis, a
secretary, an executive director, counsel, legal staff, and such
technical experts and other agents and employees as it may require,
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and may determine the qualifications and fix the compensation and
benefits of such employees. A land bank may also enter into
contracts and agreements with a municipality to provide staffing
services to the land bank, or for the land bank to provide staffing
services to the municipality.
SECTION 7. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-106 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. A land bank established as provided in Section 3 of this act
shall have all powers necessary or appropriate to carry out and
effectuate the purposes and provisions of this act, including the
power to:
1. Adopt, amend, and repeal bylaws for the regulation of its
affairs and the conduct of its business;
2. Sue and be sued in its own name and plead and be impleaded
in all civil actions, including, but not limited to, actions to
clear title to property of the land bank;
3. To adopt a seal and to alter the same at pleasure;
4. To borrow from private lenders, from municipalities, from
this state, or from federal government funds, as may be necessary,
for the operation and work of the land bank;
5. To issue negotiable revenue bonds and notes according to the
provisions of this act;
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6. To procure insurance or guarantees from this state or the
federal government of the payments of any debts or parts of such
debts incurred by the land bank, and to pay premiums in connection
with such debts;
7. To enter contracts and other necessary instruments
incidental or convenient to the performance of its duties and the
exercise of its powers, including, but not limited to, interlocal
cooperative agreements, as provided in the Interlocal Cooperation
Act, for the joint exercise of powers under this act;
8. To enter contracts and other instruments necessary,
incidental, or convenient to the performance of functions by the
land bank on behalf of municipalities or agencies or departments of
such, or the performance by municipalities or agencies or
departments of such of functions on behalf of the land bank;
9. To make and execute contracts and other instruments
necessary or convenient to the exercise of the powers of the land
bank;
10. To procure insurance against losses in connection with the
real property, assets, or activities of the land bank;
11. To invest money of the land bank, at the discretion of the
board of directors, in instruments, obligations, securities, or
property, and name and use depositories for its money;
12. To enter contracts for the management of, the collection of
rent from, or the sale of real property of the land bank;
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13. To design, develop, construct, demolish, reconstruct,
rehabilitate, renovate, relocate, and otherwise improve real
property or rights or interests in real property;
14. To fix, charge, and collect rents, fees, and charges for
the use of real property of the land bank and for services provided
by the land bank;
15. To grant or acquire a license, easement, lease, as either
lessor or lessee, or option with respect to real property of the
land bank;
16. To enter partnerships, joint ventures, and other
collaborative relationships with municipalities and other public and
private entities for the ownership, management, development, and
disposition of real property; and
17. To do all other things necessary or convenient to achieve
the objectives and purposes of the land bank or other laws that
relate to the purposes and responsibilities of the land bank.
B. A land bank shall neither possess nor exercise the power of
eminent domain.
SECTION 8. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-107 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. The real property of a land bank and its income and
operations are exempt from all taxation by this state and by any of
its political subdivisions.
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B. The land bank may acquire real property or interests in real
property by gift, devise, transfer, exchange, foreclosure, purchase,
or otherwise on terms and conditions and in a manner the land bank
considers proper.
C. The land bank may acquire real property by purchase
contracts, lease purchase agreements, installment sales contracts,
and land contracts, and may accept transfers from municipalities
upon such terms and conditions as agreed to by the land bank and the
municipality. A municipality may transfer to the land bank real
property and interests in real property of the municipality on such
terms and conditions and according to such procedures as determined
by the municipality.
D. The land bank shall maintain all its real property in
accordance with the laws and ordinances of the jurisdiction in which
the real property is located.
E. The land bank shall not own or hold real property located
outside the jurisdictional boundaries of the land bank jurisdiction
or units that created the land bank; provided, however, that a land
bank may be granted authority pursuant to an intergovernmental
cooperation agreement with another municipality to manage and
maintain real property located within the jurisdiction of such other
municipality.
F. A municipality may convey to a land bank real property and
interests in real property on such terms and conditions, and
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according to such procedures, as determined by the transferring
municipality.
SECTION 9. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-108 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. The land bank, irrespective of the identity of the entity
that transferred real property to such, shall hold all real property
acquired by such in its own name.
B. The land bank shall maintain and make available for public
inspection an inventory of all real property held by the land bank.
C. The land bank shall determine and set forth, in the policies
and procedures of the board of directors, the general terms and
conditions for consideration to be received by the land bank for the
transfer of real property and interests in real property. Such
consideration may take the form of monetary payments and secured
financial obligations, covenants and conditions related to the
present and future use of the property, contractual commitments of
the transferee, and such other forms of consideration as determined
by the board to be in the best interest of the land bank.
D. The land bank may convey, exchange, sell, transfer, lease as
lessee, grant, release, and demise, pledge, and hypothecate all
interests in, upon, or to real property of the land bank.
E. In either the resolution of land bank jurisdiction creating
a land bank or the applicable interlocal cooperative agreement of
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multiple land bank jurisdictions creating a single land bank, there
may be established a hierarchal ranking of priorities for the use of
real property conveyed by a land bank including but not limited to:
1. Use for purely public spaces and places;
2. Use for affordable housing;
3. Use for retail, commercial, and industrial activities;
4. Use for wildlife conservation areas; and
5. Such other uses and in such hierarchal order as determined
by the resolution or interlocal cooperative agreement establishing
such land bank.
F. In either the resolution of a land bank jurisdiction
creating a land bank or the applicable interlocal cooperative
agreement of multiple land bank jurisdictions creating a single land
bank, there may be a requirement that any particular form of
disposition of real property, or any disposition of real property
located within specified jurisdictions, be subject to specified
voting and approval requirements of the board of directors. Unless
restricted or constrained as provided in this subsection, the board
may delegate to officers and employees of the land bank the
authority to enter into and execute agreements, instruments of
conveyance, and all other related documents pertaining to the
conveyance of real property by the land bank.
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SECTION 10. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-109 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. A land bank may receive funding through grants and loans
from the land bank jurisdiction, from other municipalities, this
state, the federal government, and other public and private sources.
B. A land bank may receive and retain payments for services
rendered, for rents and leasehold payments received, consideration
for disposition of real and personal property, proceeds of insurance
coverage for losses incurred, income from investments, and for any
other asset and activity lawfully permitted to a land bank under the
provisions of this act.
C. Fifty percent (50%) of the real property taxes collected on
real property conveyed by a land bank pursuant to the laws of this
state shall be remitted to the land bank. Such allocation of
property tax revenues shall commence with the first taxable year
following the date of conveyance and may continue for a period of
five (5) years.
SECTION 11. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-110 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. A land bank shall have the power to issue bonds for any of
its corporate purposes, the principal and interest of which are
payable from its revenues generally. Any of such bonds may be
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secured by a pledge of any revenues, including grants or
contributions from this state, the federal government, or any
agency, and instrumentalities of such, or by a mortgage of any
property of the land bank.
B. The bonds issued by a land bank are hereby declared to have
all the qualities of negotiable instruments under the law merchant
and the negotiable instruments law of this state.
C. The bonds of a land bank created under the provisions of
this act and the income from such shall be exempt from any state or
local tax.
D. Bonds issued by the land bank shall be authorized by
resolution of the board of directors and shall be limited
obligations of the land bank; the principal and interest, costs of
issuance, and other costs incidental to such shall be payable solely
from the income and revenue derived from the sale, lease, or other
disposition of the assets of the land bank. At the discretion of
the land bank, the bonds may be additionally secured by mortgage or
other security device covering all or part of the project from which
the revenues so pledged may be derived. Any refunding bonds issued
shall be payable from any source described above or from the
investment of any of the proceeds of the refunding bonds, and shall
not constitute an indebtedness or pledge of the general credit of
any land bank jurisdiction or municipality within the meaning of any
constitutional or statutory limitation of indebtedness and shall
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contain a recital to that effect. Bonds of the land bank shall be
issued in such form, in such denominations, bear interest, mature in
such manner, and be executed by one or more members of the board as
provided in the resolution authorizing the issuance thereof. Such
bonds may be subject to redemption at the option of and in the
manner determined by the board in the resolution authorizing the
issuance thereof.
E. Subject to any applicable provision of law, a municipality
may elect to guarantee, insure, or otherwise become primarily or
secondarily obligated on the indebtedness of the land bank.
F. Bonds issued by the land bank shall be issued, sold, and
delivered in accordance with the terms and provisions of a
resolution adopted by the board. The board may sell such bonds in
such manner, either at public or at private sale, and for such price
as it may determine to be in the best interests of the land bank.
The resolution issuing bonds shall be published in a newspaper of
general circulation within the jurisdiction of the land bank.
G. Neither the members of a land bank nor any person executing
the bonds shall be personally liable on any such bonds by reason of
the issuance thereof. Such bonds or other obligations of a land
bank shall not be a debt of any municipality or of this state, and
shall state such on their face; nor shall any municipality or this
state or any revenues or any property of such be liable.
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SECTION 12. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-111 of Title 11, unless there
is created a duplication in numbering, reads as follows:
The board of directors shall cause minutes and a record to be
kept of all its proceedings. Except as otherwise provided in this
act, the land bank shall be subject to the Oklahoma Open Meeting Act
and the Oklahoma Open Records Act.
SECTION 13. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-112 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. 1. The board of directors of a land bank may vote to
recommend the dissolution of such land bank by a two-thirds (2/3)
vote in favor of a resolution calling for such. Sixty (60) calendar
days prior to voting on such resolution, the land bank shall provide
written notice of such consideration to the land bank jurisdiction
or jurisdictions, cause notice of such consideration to be published
in a newspaper of general circulation in the land bank jurisdiction
or jurisdictions, and send notice of such consideration via
certified mail to the trustees of any outstanding bonds of the land
bank.
2. Sixty (60) calendar days after a vote by the board to
dissolve the land bank, the land bank may be dissolved by the
governing body of the land bank jurisdiction or jurisdictions.
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B. 1. Upon dissolution of the land bank, all real property,
personal property, and other assets of the land bank shall become
the assets of the land bank jurisdiction or jurisdictions.
2. In the event that two or more land bank jurisdictions create
a land bank in accordance with the provisions of Section 3 of this
act, the withdrawal of one or more land bank jurisdictions shall not
result in the dissolution of the land bank unless the interlocal
cooperative agreement provides for such or there is no land bank
jurisdiction participating in such agreement that desires to
continue the existence of the land bank.
SECTION 14. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-113 of Title 11, unless there
is created a duplication in numbering, reads as follows:
No member of the board of directors or employee of a land bank
shall acquire any interest, direct or indirect, in the real property
of the land bank, in any real property to be acquired by the land
bank, or in any real property to be acquired from the land bank. No
member of the board or any employee of a land bank shall have any
interest, direct or indirect, in any contract or proposed contract
for materials or services to be furnished or used by a land bank.
The board may adopt supplemental rules and regulations addressing
potential conflicts of interest and ethical guidelines for members
of the board and employees of the land bank.
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SECTION 15. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-114 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. 1. In the event of a natural disaster which causes
widespread damage to and destruction of real property and
improvements and dislocation of residents, the Governor shall have
the authority, following issuance of a declaration of emergency and
in consultation with the local governments of the geographic area
subject to such declaration of emergency, to issue an executive
order providing for the immediate creation of a land bank of and for
such local governments.
2. The executive order shall provide for the matters identified
in Section 3 of this act.
3. A land bank created pursuant to the provisions of this
section shall have all the authority and powers of a land bank
created pursuant to the provisions of Section 3 of this act.
B. 1. The status of any land bank created pursuant to the
provisions of this section may be changed into that of a land bank
created under the provisions of Section 3 of this act by necessary
and appropriate action of the municipalities within the geographic
areas subject to the declaration of emergency. Upon such action,
the land bank shall be considered the successor in interest and at
law to the land bank created pursuant to the provisions of this
section.
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2. In the event that such municipalities do not take such
action, twelve (12) months following the date of the Governor’s
executive order creating the land bank, such land bank shall be
dissolved in accordance with the provisions of paragraph 1 of
subsection B of Section 13 of this act.
SECTION 16. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-115 of Title 11, unless there
is created a duplication in numbering, reads as follows:
This act shall be construed liberally to effectuate the
legislative intent and the purposes as complete and independent
authorization for the performance of each and every act and thing
authorized by this act, and all powers granted shall be broadly
interpreted to effectuate the intent and purposes and not as a
limitation of powers. Except as otherwise expressly set forth in
this act, in the exercise of its powers and duties under this act
and its powers relating to property held by the land bank, the land
bank shall have complete control as fully and completely as if it
represented a private property owner and shall not be subject to
restrictions imposed by the charter, ordinances, or resolutions of a
local unit of government.
SECTION 17. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-116 of Title 11, unless there
is created a duplication in numbering, reads as follows:
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A. Except as provided by subsection F of this section, property
that is ordered sold pursuant to foreclosure of a tax lien may be
sold in a private sale to a land bank by the officer charged with
the sale of the property without first offering the property for
sale as otherwise provided by Section 231 of Title 68 of the
Oklahoma Statutes, if:
1. The market value of the property as specified in the
judgment of foreclosure is less than the total amount due under the
judgment, including all taxes, penalties, and interest, plus the
value of nontax liens held by a taxing unit and awarded by the
judgment, court costs, and the cost of the sale;
2. The property is not improved with a building or buildings;
3. There are delinquent taxes on the property for a total of at
least five (5) years; and
4. The municipality has executed with the other taxing units
that are parties to the tax suit an interlocal cooperative agreement
that enables those units to agree to participate in the program
while retaining the right to withhold consent to the sale of
specific properties to the land bank.
B. The sale of property for use in connection with the program
is a sale for a public purpose.
C. If the person being sued in a suit for foreclosure of a tax
lien does not contest the market value of the property in the suit,
the person waives the right to challenge the amount of the market
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value determined by the court for purposes of the sale of the
property.
D. For any sale of property under this act, each person who was
a defendant to the judgment, or that person’s attorney, shall be
given, not later than the ninetieth day before the date of sale,
written notice of the proposed method of sale of the property by the
officer charged with the sale of the property. Notice shall be
given in the manner prescribed in Section 2004 of Title 12 of the
Oklahoma Statutes.
E. After receipt of the notice required by subsection D of this
section and before the date of the proposed sale, the owner of the
property subject to sale may file with the officer charged with the
sale a written request that the property not be sold in the manner
provided by this act.
F. If the officer charged with the sale receives a written
request as provided by subsection E of this section, the officer
shall sell the property as otherwise provided in Section 231 of
Title 68 of the Oklahoma Statutes.
G. The owner of the property subject to sale may not receive
any proceeds of a sale under this act. However, the owner does not
have any personal liability for a deficiency of the judgment as a
result of a sale under this act.
H. Notwithstanding any other provision of law, if consent is
given by the taxing units that are a party to the judgment, property
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may be sold to the land bank for less than the market value of the
property as specified in the judgment or less than the total of all
taxes, penalties, and interest, plus the value of nontax liens held
by a taxing unit and awarded by the judgment, court costs, and cost
of the sale.
I. The deed of conveyance of the property sold to a land bank
under this section conveys to the land bank the right, title, and
interest acquired or held by each taxing unit that was a party to
the judgment, subject to the right of redemption.
J. Upon conveyance of the property sold to a land bank pursuant
to subsection H of this section, the right, title, and interest held
by each taxing unit on such property shall be discharged and
extinguished except as otherwise provided in the judgment or subject
to the right of redemption.
K. A land bank or land bank jurisdiction may participate in
proceedings that involve the acquiring of bulk tax foreclosures of
multiple parcels of real property provided that the parcels meet the
requirements of foreclosure under this section and any other
applicable statutes.
SECTION 18. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 57-117 of Title 11, unless there
is created a duplication in numbering, reads as follows:
A. A land bank shall be authorized to file an action to quiet
title as to any real property in which the land bank has an
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interest. For purposes of any and all such actions, the land bank
shall be deemed to be the holder of sufficient legal and equitable
interests, and possessory rights, so as to qualify the land bank as
adequate complainant in such action.
B. Prior to the filing of an action to quiet title, the land
bank shall conduct an examination of title to determine the identity
of any and all persons and entities possessing a claim or interest
in or to the real property. Service of the complaint to quiet title
shall be provided to all such interested parties by:
1. Registered or certified mail to such identity and address as
reasonably ascertainable by an inspection of public records. In the
case of occupied real property by registered or certified mail, such
shall be addressed to “Occupant”;
2. Posting a copy of the notice on the real property;
3. Publication in a newspaper of general circulation in the
municipality in which the property is located; and
4. Such other methods as may be ordered by a court of competent
jurisdiction.
C. As part of the complaint to quiet title, the land bank shall
file an affidavit identifying all parties potentially having an
interest in real property, and the form of notice provided.
D. A court of competent jurisdiction shall schedule a hearing
on the complaint within ninety (90) days following filing of the
complaint, and as to all matters upon which an answer was not filed
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by an interested party, the court shall issue its final judgment
within one hundred twenty (120) days of the filing of the complaint.
E. A land bank shall be authorized to join in a single
complaint to quiet title one or more parcels of real property.
SECTION 19. This act shall become effective July 1, 2026.
SECTION 20. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
60-2-2751 MSBB 1/8/2026 2:53:54 PM