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is there a way to claim another persons real estate on unpaid taxes?
5 Answers
- BobbieLv 79 years agoFavorite Answer
Tax lien sale From Wikipedia, the free encyclopedia
A tax lien sale is the sale, conducted by a governmental agency, of tax liens for delinquent taxes on real estate. It is one of two methodologies used by governmental agencies to collect delinquent taxes owed on real estate, the other being the tax deed sale.
http://en.wikipedia.org/wiki/Tax_lien_sale
Sale process
Liens not sold at auction are considered "struck" (or sold) to the entity (usually the county) conducting the auction. Some states allow "over the counter" purchases of liens not sold at auction. However, in most instances the unsold liens are on marginal or worthless properties, the liens on better properties having been purchased at auction.
Redemption process
Benefits of tax lien investing
Pitfalls of tax lien investing
Hope that you find the above enclosed information useful. 05/25/2012
- troLv 79 years ago
the county will seize the property for delinquent taxes, eventually put it up for auction at which time the successful bidder will be able to claim the property, after an specified amount of time the owner is given to pay the delinquent taxes
the successful bid will include the unpaid taxes and the remainder of any mortgage
if the property is free and only the delinquent taxes as a liability, it might be handled through a lawyer who works with the owner and the prospective owner and county to work out the transfer.
- Bostonian In MOLv 79 years ago
Only by being the high bidder at the tax auction AND the former owner does not redeem the property within the redemption period set out in state law.
- WolfieLv 49 years ago
NO THIS IS AN URBAN MYTH. ONLY THE COUNTY OR LOCAL MUNICIPALITY HAVE THE RIGHT TO TAKE POSSESSION OF PROERTY FOR BEING IN ARREARS. YOU CANNOT JUST CLAIM THE PROPERTY BY PAYING THE BACK TAXES.
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