Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Revenue and Taxation Code

Division 2. Other Taxes

Part 18.5. Timber Yield Tax

Chapter 6. Collection of Taxes

Article 6. Seizure and Sale

Section 38554

38554. Disposition of proceeds. If upon the sale the moneys received exceed the total of all amounts, including interest, penalties, and costs due the state, the board shall return the excess to the person liable for the amounts and obtain his receipt. If any person having an interest in or lien upon the property files with the board prior to the sale notice of his or her interest or lien, the board shall withhold any excess pending a determination of the rights of the respective parties to the excess moneys by a court of competent jurisdiction. If for any reason the receipt of the person liable for the amount is not available, the board shall deposit the excess moneys with the Controller, as trustee for the owner, subject to the order of the person liable for the amount, his or her heirs, successors, or assigns.

History—Stats. 1996, Ch. 860, in effect January 1, 1997, substituted "to the excess moneys" for "thereto" after "the respective parties" in the second sentence, substituted "the Controller" for "the State Treasurer" after "excess moneys with" in the third sentence, and substituted "his or her" for "his" throughout the text.