The End of Home Equity Theft and the Future of Takings
Cato Podcast
Cato Institute
4.5 • 979 Ratings
🗓️ 12 June 2023
⏱️ 10 minutes
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| 0:00.0 | This is the Cato Daily Podcast for Monday, June 12th, 2003. |
| 0:07.0 | I'm Caleb Brown. |
| 0:08.0 | The Supreme Court has delivered relief to Geraldine Tyler, the woman whose home was seized by local government over unpaid taxes, |
| 0:15.0 | where the government just kept the equity over what Miss Tyler owed. |
| 0:20.0 | What are the implications for government takings in the future? |
| 0:23.0 | Cato's Tommy Barry details what the court said. |
| 0:25.7 | Tommy, you and I've talked about the case of Tyler v Hennepin County before. |
| 0:30.5 | I happen to have an in-house expert on the practice of home equity theft here in my home |
| 0:35.8 | who's filled my head with all of the technical details of how governments seize homes and keep the |
| 0:41.5 | proceeds. The Supreme Court here not really divided at all. |
| 0:47.4 | You know, the bulk of this case, or at least the substance of the case, was decided |
| 0:52.3 | overwhelmingly. |
| 0:53.0 | Indeed, unanimously, we talked about this case three months ago. |
| 0:57.0 | It was the last argued case of the term and decided very quickly nine to nothing. |
| 1:02.0 | This is the case of the 94 year old woman in the |
| 1:05.2 | Minneapolis, Minnesota whose condo was seized after she wasn't able to pay |
| 1:09.6 | property taxes on it. She was behind by about 15,000. The condo was sold for 40,000 and the county took all of the money. |
| 1:18.6 | So she was out about $25,000 more than she in fact owed. |
| 1:23.6 | The county argued that under state law, |
| 1:25.7 | this wasn't her property anymore. |
| 1:27.3 | It belonged to the county under a law passed about 100 years ago. |
| 1:31.8 | And the Supreme Court rejected that not by a close |
... |
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