Posted by Bill H on February 20, 2010 at 20:39:18:
Jack:
A tax line carries NO right of ownership. I know of NO tax lien state that you can immediately apply for a deed. How would they do this…they have NO right to deed it to you.
Every tax lien state that I am aware of is very specific and very careful to wait until the lien matures BEFORE doing anything.
In a tax deed state like Texas, you get the deed almost immediately after the sale. The property is yours to do with as you desire…SUBJECT TO…the right of redemption which is either 6 months or 2 years.
Posted by Jack-E on February 19, 2010 at 16:02:22:
I am looking for Oklahoma specific Tax Sale/Lien info. If there is anyone out there who knows, what are the procedures and requirements to purchase a piece of property in Oklahoma? Specifically can you buy a tax lien and turn it into a purchase, as you could a few years ago? If so how?
Posted by Bill H on February 19, 2010 at 21:55:33:
Search the archives.
Google “Oklahoma statutes” check the taxation statutes and look for the tax sale information.
In general if you buy a tax lien you GET NO ownership rights until it matures to you.
If you buy a TAX DEED you get the deed to the property.
OK like every other state has tax liens for properties that did not sell at the lien sale and have been held by the state until maturity. You can purchase them from the various counties…and…they are yours…warts and all. CAVEAT EMPTOR…if no one else wanted it …why…do you?
Do not know what you mean by, “As you could a few years ago”…OK statutes have been in place with no major change for some time.
Tax lien sales are IMHO NOT a good place to try and get property for pennies on the dollar. Been doing them since about 1988, strictly for the interest and penalties…NOT…the crummy properties.
NOW, someone will post that they got a FANTASTIC deal…yes, the blind hog does pick up an occasional acorn. BUT…not as a general rule.
Posted by Jack-E on February 20, 2010 at 19:36:09:
Thanks Bill. I think this is what I was looking for. What I meant by a few years ago is that before this last change you could apply for a deed immediately after buying the tax lien, one of the few if any other states you could do this.