Steps to buy property before tax lien holder does. - Posted by Thurman

Posted by Bill H on May 21, 2011 at 15:58:30:

Regular tax sale or scavenger sale?

Either way I know of nothing that would preclude the original owner quit claiming it to you and you paying the back taxes.

HOWEVER:…In this case you are merely taking it SUBJECT to all liens and encumberances…the tax sale has not run it’s course and will not wipe anything from title.

In most states, I’d have to go back and research Illinois, but the tax sale purchaser will get a tax deed from the state…THEN,they either have to go through foreclosure or quiet title to clear the title.

IT IS NOT as simple as the GURU’s make it out in order to sell books and tapes.

Last case I read was Jones Vs Flowers in Arkansas and went to SCOTUS and after about 6 years it went BACK to the owner…states do not like to take property for taxes UNLESS and UNTIL you can prove to them that due course,EVERYONE who might have an interest,has been PROPERLY notified and has the opportuntity to present their case.

Lack of proper notification is the MAIN defense in almost all tax sale quiet title confirmation cases.

It can be VERY expensive, often more than the property is actually worth.

Good Luck,

Remember…everything that goes to tax sale is NOT worth pursuing.

Bill H

Steps to buy property before tax lien holder does. - Posted by Thurman

Posted by Thurman on May 20, 2011 at 19:51:47:

In a couple of months, the tax lien holder will be awarded the title to a property. He has paid the real estate taxes for the last three years.

Questions:

  1. When the tax lien holder is awarded the property does he get a clear title or does he get the property with any liens against it like a loan montgage?

  2. If the tax lien holder gets a clear title to the property; how do I get the property owner to quit claim the property to me and I pay the tax lien holder the back taxes plus interest?

Thank you for your thoughts on this matter.

Thurman

holder does. - Posted by Nike

Posted by Nike on May 23, 2011 at 09:03:26:

You need to act before the investor gets title.

He will apply for a tax deed then likely need to bring a quiet title action. Are there other liens?

Have you seen a copy of nptice the owner received from the investor? On the back it should identify the investor and all other defendents (junior liens).

Is this residential or commercial property? Post more information and we can sort this out.

Which State? - Posted by GL-GA

Posted by GL-GA on May 20, 2011 at 20:22:51:

Tax liens are state specific. To begin with you will need to specify which state.

Re: Which State? - Posted by Thurman

Posted by Thurman on May 21, 2011 at 24:02:29:

Illinois