Deliquent Property Taxes Due After Foreclosure Auction?
I bought a foreclosure property at the courthouse in late September 2006 and recently received a notice from the county about deliquent property taxes for 2005. I have received the substitute trustees deed to the property. My question is, am I responsible for paying the previous owners back property taxes for 2005 and the majority of 2006 since those were also unpaid? I can understand that I would be responsible for the taxes after the auction since I owed the property. If so, does the county have any recourse at this point? Thanks
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Property taxes are senior to all liens. Yes you are obligated to pay the delinquent taxes. The county can foreclose if you do not bring the taxes current[ Edited by sanjosee on Date 02/26/2007 ]
The County taxes have priority over everything. Even if the property is held "Free & Clear".
You really should be doing your homework before you bid on stuff. What if there had been a huge IRS Lien? Your lucky it was just a little property tax lien. A quick check with a title company saves a lot of bacon. [ Edited by ChrisSanDiego on Date 03/09/2007 ]
The taxes are how your local government survives. I really doubt that they would just eat the bad debt, but maybe it varies from state to state. You need to do a titlle search and then do a tax assessor search to make sure you know the tax situation on that property. A tax lien will not usually be placed on the property until the taxes are 2-3 years old and so it will not show up on your title search....learning cost $ whether it is college or RE.