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The Bank of New York subsequently purchased the property for $43.2 million at a public auction in July 1986, to obtain the title to the land so it could be sold to a developer. The Plaza became the most expensive property ever sold at a public auction in Palm Beach County, Florida.
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority. [1] [2] [3]
Attorney Brad Schandler, at right, takes bids during the auction of condominium unit 119A at Oakland Grove Village Condominium in Oakland Park, Florida on Tuesday, February 27, 2024.
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A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
They enticed the Florida Legislature with offers of free land, locally paying for construction of a county courthouse and development of a related public square, and donating an additional $500 to purchase a quarter section of land to be sold at public auction as a way to finance the new government, if the county seat was moved to Marianna. [7]