rl partners
Nov 23, 2006, 09:52 AM
How do Tax Sales/leins work?
Fr_Chuck
Nov 23, 2006, 11:14 AM
First a tax lien is put on your property for not paying either city or county property tax.
Each state has its own rules, so you have to check your specific state.
But after the tax is in defaut far enough, they hold a auction at the court house steps. ( they normally give notice in the legal section of the news paper before the sale.
The owner can redem or get back his property any time before the sale.
*** This is where it can vary from state to state.
For example in some states, at the sale you will receive a tax certificate, that you have to keep for a certain number of years before you can turn it in for a tax deed. ( during this period the past owners have a right to redem the property plus interest/
In other states you will get the actual deed at the sale.
I buy property from tax sells all the time