Tax Lien Former Owner Posted For Sale Sign
I purchased a property through a tax sale at the local court house in GA in June 0f 2007. Today I rode by the land and the owner that owed the back taxes has posted a for sale sign on the property. Is this legal? Can he sale the property?
Are you the full owner per the court? Have you done a quiet title to perfect your interest or obtained the docs from the court specifying your right to be in the prop?
If you have done the above, just remove the sign or tell the former owner you will sell it back to them.
You did NOT buy the property, only the first lein position. The owner can sell the house if they desire(they still own it), but you will have to be paid as you are recorded as the tax lein holder(first and superior position).
The owner has one year right of redemption, and must pay you what you paid for the property +20%. After the 365 days are past, you can file for foreclosure. There are certain steps that must be taken, and an attorney would ensure your position. If they redeem after you file notice through the attorney, I believe they also must pay all legal costs.
Our county collector, who acts as the “Tax sale auctioneer” highly recommends purchasers record the “Certificate” showing we paid the taxes and got a “Certificate of Purchase”. This give constructive notice to the world and it would be hard pressed for the previous owner to sell the property without your involvement being noted.
For others reading this post. Please be advised that the dates and time frames Whitebb list apparently are for GA and NOT for some other states.
Whitebb. Thanks for the info. I have been wondering about tax sales in GA
I would also like to hear the cons of tax lien/deed investing. Thank you.
Winifred:.
Go to the Tax Lien forum..much info there
Those are some nice succinct points you brought up. They mostly all hold true for tax deeds as well. Thanks for sharing.
Great list, thanks a lot for taking the time to post all of that. A few of them I was aware of, but a few were new to me.
J. Hobbs
JohnMerchant Right ON
EPhesus
Make note all states are not the same so I am talking about Missouri here and it may be county/city specific. You can never tell until you have talked to the collector of both the city and the county.
If there are other liens that you are concerned about, as you mention in #8 of previous post, take into consideration who is selling the lien at the courthouse steps.
If the city is selling the lien because of weeds, clean up, demolition etc that cost would have been in the sale price. If the county also had a lien because of unpaid taxes that also would have been paid at the courthouse steps. When the original owner wanted to redeem the property he would have to pay all the monies plus give you’re your interest. Our city does not collect interest, but the county does. Just found that out. I will not purchase city liens at tax sales NO more.
However if the County is selling the property because of unpaid taxes and there are city liens (weeds, clean up, demolition) you do not pay the city liens but later on, at end of redemption period, it is your responsibility to also notify the city along with all other parties with an interest and they have to redeem the property just like anyone else or their liens go away just like anyone else does.
So one of your concerns should center around who is selling the property (remember – this may be state specific)