North Dakota Code 61-07-05 – Purchase of land after foreclosure of tax lien
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When the board shall deem it necessary to protect the interests of the district, or of the electors thereof, or to protect the interests of bondholders or other creditors of the district, it, if funds are available for that purpose, may purchase land within the district after foreclosure by the county for unpaid and delinquent taxes and may own and sell any lands thus acquired.
Terms Used In North Dakota Code 61-07-05
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC