Posted on: 22nd Sep, 2007 11:46 am
i am planning to buy a lot, seller will give quit claim deed for a lot that was purchased thru tax sale. in county records it is mentioned as "td". i am interested in knowing procedure and cost to get title - is it possible to do so ?
The seller must have purchased the property through tax deed sale. This is sale of a property wherein the previous owner has been delinquent on property taxes and as a result the county has sold it through tax deed. For you to get title to the same property, all you need to do is to ask the seller sign over a quitclaim deed to you. Then you need to record the deed at the office of the county recorder after getting it signed by a notary public.
Hi Kemllc,
With a tax deed sale, the property is sold at public auction to the highest bidder. The highest bidder becomes the new owner and obtains all rights to the property, clear of any mortgages or liens.
With a tax deed sale, the property is sold at public auction to the highest bidder. The highest bidder becomes the new owner and obtains all rights to the property, clear of any mortgages or liens.
Not quite true Larry... Some lien types can survive a tax sale, an IRS lien for example and in some states a contractor's/mechanic's lien. It is best to do a title search when in doubt and/or get title insuance.
Tax Lien/Tax Deed sales & laws vary from state to state, it is best to get local advise. That said, the quit claim should work in this situation...
As the RE in question is a lot, the title insuance should be very reasonable.
Tax Lien/Tax Deed sales & laws vary from state to state, it is best to get local advise. That said, the quit claim should work in this situation...
As the RE in question is a lot, the title insuance should be very reasonable.
you will make tit as a absolute auction?