Land Bank Property Acquisition Information

How Do I Acquire a Land Bank Property?

In order to purchase a Land Bank property, you must submit a Property Interest Application. This application should include a detailed description of the intended use of the property as well as proof of financial means to complete the project in 18 months.

Once your application is received, it will be reviewed by the Land Bank Board. If it is approved, the board will take the next steps to transfer the property as outlined in the Disposition Guidelines. In addition to property owned by the Land Bank, there are properties the Land Bank can attempt to acquire:

• If the Land Bank holds a tax deed for a property (see list below), the board can move forward to obtaining quiet title and then transferring the property.
• If the City or County government holds a tax deed, the Land Bank can request a deed transfer to the Land Bank, and if the request is granted, the board can then bar redemption and quiet title.
  • Check here for a list of county-held tax deeds
• If a property has multiple years of delinquent property taxes, the Land Bank can take the property to a judicial in rem foreclosure. 
  • Check the tax balance of a city property
  • Check the tax balance of a county property

The cost of a Land Bank property includes the disposition fee as outlined in the Disposition Guidelines plus any costs associated with acquiring and maintaining the property such as legal fees, maintenance fees, demolition costs, etc.