New Jersey Tax Lien
I has a question the hopefully someone can answer for me. I have a home owner here in New Jersey that did not pay her 2004 propery taxes. An investor bought the tax lien in march of 2005. He paid a premium price of $4000 for the lien. Can I as a private investor, loan this lady the money in the form of a 2nd mortgage to pay off her taxes? Can I record this mortgage so that I am protected just incase she doesnt pay me back. And if this is all possible, where can i find all the proper documentation that needs to be filled out, signed and recordered?
I just read this: If you are purchasing a tax lien or deed from out of the country you need to form a corporation. When you set up your corporation you will be given a Tax Identification Number or Federal Tax Id or (EIN). The number recognizes your corporation as a legal US entity. With this number you will be able to invest in tax liens and deeds.
TheShortSalePro, thanks for the speedy reply. Can you also answer two other questions for me.
1. Do you know if you can buy Tax liens over the counter from any of the New Jersey Townships?
2. Can anyone other than the owner of the property walk into the tax office, after the taxes are pass due but before the tax sale and pay the back taxes and then record a public notice to protect the investment?
Thanks
I would start w/ the title insurance POC if you have one.