HomeMy WebLinkAbout1997-09-22 97-388 ORDERCOUNCIL ACTION
Item No. 97-388
Date September 22. 1997
Item/Subject: Authorizing Execution of Municipal Quitclaim Deed
-- Real Estate Located at 44 Pier Street
Responsible Department: Legal
Commentary:
The law firm of Cohen & Cohen is handling the purchase of real
estate located at 44 Pier Street, formerly owned by Lawrence
Merrill, on behalf of Bangor Property Management, Inc. and Philip
L. Adams. A closing has been scheduled for late September and
prior to the Council's first meeting in October. There is a
matured tax lien for F 1995 real estate taxes recorded against the
property. Cohen & Cohen has asked that the City issue a quitclaim
deed to facilitate the scheduled closing. This Order would
authorize execution of a quitclaim deed. The executed deed will be
held in escrow until the day of the closing. At that time, the
(cont'd on next page)
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Department Bead
Manager's comments:
4City Manager
Associated Information: Order
Budget Approval:
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YlnancE Director
MA
Introduced For CONSENT AGENDA
X_ Passage
First Reading
Referral Page I of 3
97-388
deed, and any other necessary discharges, will be released from
escrow upon payment in full of all outstanding and current real
estate taxes on this account.
Please note that the FY 1995 tax lien matured after a Chapter 7
bankruptcy petition was filed, so under the bankruptcy statute the
City could not legally foreclose its matured tax lien. The pending
sale of the property has been specifically authorized by the
Bankruptcy Court.
There are no code violations affecting the property
97-388
Amiped W Counedor Soucy S2ptember 22, 1997
:.0 CITY OF BANGOR
Authorizing Execution of Municipal Quitclaim Deed
(TITLE.) �rDCr, ..........__ __- _.. .........
-- Real Estate Located at 44 Pier Street
BY Ow City Cowwi! of Us Ckr ofBa .'
ORDERED,
THAT
Ronald I. Heller, Finance Director, is hereby
authorized, on behalf of the City of Bangor, to execute a Municipal
Quitclaim Deed releasing any interest the City may have in the real
estate located at 44 Pier .Street in said Bangor, by virtue of an
undischarged real estate tax lien for tax year 1995 recorded in the
Penobscot Registry of Deeds in Book 5875, Page 348.. Said deed
shall be directed to Bangor Property Management, Inc. and Philip L.
Adams, Sr., successors in title to Lawrence E. Merrill, in a form"
to be approved by the City Solicitor's Office.
IN CITY COUNCIL
September 22, 1997
Passed 97-388
ORDER
CI tRRR - Title, Authorizing Execution of Municipal
Quitclaim Deed - "at Estate Located at
44 ?let Street
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..........I Y .....................
Councilman