Washington D.C.—On April 26, as the Supreme Court hears oral arguments in Tyler v. Hennepin County, a Minnesota case examining the practice of “home equity theft”, the American Property Owners Alliance (The Alliance) supports the petitioner and opposes home equity theft in the 12 states and D.C. where this practice is legal.
This follows the Amicus Brief filed by National Association of Realtors® and The Alliance with the Supreme Court of the United States opposing property tax foreclosure laws which allow local governments to keep home equity beyond what may be owed in taxes, interest, and penalties.
Property ownership is a significant path to building wealth in America, yet home equity theft places individuals – particularly elderly populations – at risk of losing this investment. In addition to the 13 jurisdictions where this practice is legal, nine states allow for home equity theft in certain situations.
Regardless of the ruling in this case, we need legislative solutions that will protect the equity property owners have built by closing all loopholes that allow home equity theft.
When unexpected financial hardships occur, families and individuals should not lose the entirety of their home equity to aggressive government actions.
About the American Property Owners Alliance
The American Property Owners Alliance (The Alliance) is a nonpartisan, non-profit organization created to protect and support property owners and pave the way for future property owners. Our mission is to educate property owners about federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize, when necessary, to secure those rights and interests.
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