§ 8.1-15. Post-judgment sale.

(a) In general.

(1) After obtaining and recording an in rem foreclosure judgment, the City may retain title to the property or sell the property, pursuant to City Charter, Article V, § 5, and City Code, Article 15, § 2-7, to advance the City's blight elimination goals.

(2) The goals described in paragraph (1) of this subsection include rehabilitation, redevelopment, creation or preservation of open or park space, or other similar uses.

(b) Land bank.

If Baltimore City establishes a Land Bank Authority in accordance with City Charter, Article II, § 65 {"Land Bank Authority"}, the City may convey the property to that Authority to be used for the City's or the Authority's blight elimination and revitalization goals.

(c) Disposition.

(1) In general.

(i) At the time the City sells any property obtained under this subtitle, the City shall deposit into the Court registry any excess funds paid by the buyer, either directly for the property or on a pro-rata basis if the property was consolidated with other lots to create a single parcel, beyond the lien amounts owed to the Mayor and the City Council, inclusive of interest, fees, and penalties, at the time of the in rem foreclosure judgement under this subtitle.

(ii) In depositing the excess funds, the City shall provide an accounting of the amount of City liens at the time of the in rem foreclosure judgement on the property and detail the price or pro-rata share of the price ultimately paid by the buyer of the property.

(2) Distribution of proceeds.

The amount deposited under paragraph (1)(i) of this subsection shall be distributed to the owner and other defendants, upon their motions, in order of lien priority.