Tender NOTICE OF PUBLIC AUCTION
Pursuant to Section 97.7(2) of the Property Assessment and Taxation Act, R.S.N.W.T. 1988, .P-10 and amendments thereto, the Municipal Corporation of the Town of Inuvik wishes to advise that the following properties may be offered for public auction if the arrears of property taxes and the current and subsequent expenses incurred by the Town to collect the arrears are not paid before
February 5, 2020:
The public auction is set for February 5, 2020 at Council Chambers, Town Hall, Inuvik, NT, at 9:00 am.
If prior to commencement of public auction, any person including the assessed owner pays the arrears of property taxes and all reasonable expenses incurred by the Town of Inuvik to collect the arrears with respect to a taxable property, the property will not be offered for auction. Each property shall be auctioned on the condition that taxes are two (2) years in arrears at the time of auction. The minimum sale price shall not be less that 50% of the assessed value as listed for each property. A property shall not be auctioned to the assessed owner of the property for less than the amount of tax arrears owing.
Any person who pays the arrears of property taxes and expenses prior to commencement of the public auction may obtain a lien on the taxable property for the amount paid if that person is not the assessed owner and that person has an interest, estate, encumbrance or claim registered or filed under the Land Titles Act in or against the taxable property or is a transferee of such a person.
The assessed owner of any of the above taxable properties is entitled to redeem that taxable property within 30 days after the date of the public auction by paying the Town of Inuvik the arrears of property taxes and all reasonable expenses incurred by the Town of Inuvik to collect the arrears. Where a taxable property that is sold at the public auction is redeemed by its assessed owner, the sale cannot be completed and all rights and interests of the purchaser in the taxable property cease.
If a taxable property is sold at the public auction, every existing interest, estate, encumbrance or claim in or against the taxable property, will be extinguished, other than:
• a caveat registered under the Land Titles Act in respect of
– a restrictive covenant;
– an easement, including a utility easement;
– an easement agreement, including a party wall agreement;
• a restrictive covenant or an easement, including a utility easement;
• an easement agreement, including a party wall agreement;
• a reservation or interest to which the property is subject under paragraphs 69(a), (c) and (d) of the Land Titles Act;
• an interest, estate, encumbrance or claim of Her Majesty in right of Canada;
• an interest, estate, encumbrance or claim that is prescribed or of a prescribed class.
How to Apply
Lawson Lundell LLP, Barristers & Solicitors
P.O. Box 818, 200, 4915 – 48th Street, YK Centre East
Yellowknife, NT X1A 2N6
Attention: Kai Niu
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