How Many Right Of Redemptions Are There?
It was my understanding, that the right of redemption was after the property was sold at auction and that in California, that period was one year.
This last week in the local paper, the list of delinquent properties was published and there it was stated that the right of redemption was about to expire (before going to auction). Is the county tax assessor just using the same phrase to describe their own internal redemption period?
Thanks,
Robert
[addsig]
Robert--(CA)-----------------
The right of redemption for delinquent property taxes expires at the close of business on the last business day before the scheduled tax sale.
Should the property not sell at the auction, the right of redemption resurrects and the owner(s) can pay the back taxes and prevent a future tax sale--for five years anyway.
There is a statute of limitations that prevents the former owner of a property which was sold at a tax auction in CA from filing a lawsuit claiming that the tax sale was improperly conducted. The statutory period is one year after the recordation of the tax deed. Within the one year period the former owner can file a lawsuit claiming that the sale was improperly conducted and, if successful with the lawsuit, can have the sale reversed.
Many people refer to the 1-year statute of limitations period as a "redemption period," which is completely wrong. They are showing their ignorance.
Good Investing**************Ron Starr************