Pursuant to the provisions of MGL c. 60, § 62A, the
Treasurer of the Town of South Hadley ("Town") may enter into a written
payment agreement ("agreement") with any person(s) entitled to redeem
ownership of parcels of real estate ("redeemer") which have been taken
by the Town as a result of nonpayment of real estate taxes. The agreement
shall be executed by the Town and redeemer and shall set forth the
terms and conditions for payment of the delinquent taxes, interest
and any other costs, fees or charges associated with same.
The redeemer of the following assessment categories of real
property shall be eligible to enter into an agreement provided for
in the preceding section:
The following conditions must be met prior to the Town and redeemer
entering into a written agreement.
A. The Town
has not filed a petition to foreclose the rights of redemption with
the Land Court, and the recording date of the instrument of taking
recorded in the Hampshire Registry of Deeds or Hampshire Registry
District of the Land Court must be no more than 10 years from the
date of the proposed agreement.
B. All real
estate taxes due for the current fiscal year assessed against the
parcel must be paid to date.
C. The redeemer,
at the time of execution of said agreement, must pay to the Town a
minimum of 25% of the amount due to redeem the parcel. The redeemer
must then agree to pay the remaining balance due to the Town in equal
monthly installments over a period not to exceed five years.
D. The agreement
may not be longer than five years in duration.
After the Town has received 75% of the total amount due, the
redeemer shall be entitled to a credit equal to 25% of the accrued
interest on the tax title account. This credit shall be applied against
the final installment payment(s) due under the agreement.
During the term of the agreement, the Treasurer may not bring
an action to foreclose the tax title of the redeemer unless payments
are not made in accordance with the schedule provided in the agreement
or timely payments are not made on other amounts due to the municipality
that constitute a lien on the same parcel.