Tax Redeemed Property - Posted by Lynda Brady

Real Estate Investing Real Estate Law
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Posted by John Merchant on November 05, 2005 at 17:22:50:

Answer depends on exact terms of AB law so you’ll need to get familiar with that law or get a lawyer who is.

You probably won’t have possessory rights to the house, or title until after AB’s redemption period has passed with no redemption.

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Tax Redeemed Property - Posted by Lynda Brady

Posted by Lynda Brady on November 05, 2005 at 11:02:08:

Hi Y’all,
I’m down here in Alabama where I recently redeemed my cousin’s farm, which had been auctioned off for 2 1/2 yrs. back taxes. Now the 3rd. years taxes are due. And I was told not to pay them, but instead let the property go back on the auction block. Then I could/should buy the property outright at said auction.
PLEASE ADVISE! Because that sounds kind of risky to me.
Thank you, from Lynda Brady Bunch

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Re: Tax Redeemed Property - Posted by John

Posted by John on November 05, 2005 at 13:10:43:

At any auction, anybody can bid, so it would be risky for you to let it be auctioned…somebody could outbid you and I think you don’t want that.

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Re: Tax Redeemed Property - Posted by Lynda Brady Bunch

Posted by Lynda Brady Bunch on November 05, 2005 at 14:33:08:

Thanks for your response.

  1. But now, how do I go about obtaining the property outright?
  2. Plus I really want to renovate the house, but I don’t want to put my hard earned $$$$ into it just to have it redeemed back from me once I’ve put all that hard work into it…
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Re: Tax Redeemed Property - Posted by Lynda Brady Bunch

Posted by Lynda Brady Bunch on November 05, 2005 at 15:59:57:

  1. How do I go about obtaining tax redeemed property outright?
  2. Plus I really want to renovate the house, but I don’t want to put my hard earned $$$$ into it just to have it redeemed back from me once I’ve put all that hard work into it…