According to the decision of the city council, once people fall behind on city taxes their property enters the tax sale process and is listed in the Manitoba Gazette.
The new legal change allows you to put up for sale real estate, in case of inability and the owner to cope with financial obligations. The main advantage of the innovation is the public sale of property at a market price. This will help prevent the transfer of ownership to the lender. This innovation significantly changes the whole process, because now the creditor cannot take property because of a small debt. Many people note that this process will allow more honesty and transparency in the overall structure. Many lawyers believe that this is a relevant change that will affect the lives of many people.
The sale of property for the purpose of repaying debts must take place in accordance with the procedure in a legal manner. Only under such circumstances, each participant in the selling process can feel the financial benefit. Now many people will not worry about losing their property. The changing the legislation falls under provincial authority.
Manitoba Municipal Relations Minister Jeff Wharton replied that he was ready to consider this issue after receiving an official request for amendments. Only such procedure will allow making all the changes completely. Anyway, the beginning of the change is necessary. Most people took this fact with enthusiasm. Due to changes at the provincial level, this decision will be fully legalized and accepted for execution.