When Redemption Period Has Expired

By dhinternational  /  April 15, 2011 / Comments Off on When Redemption Period Has Expired
Expired Redemption Period

Expired Redemption Period

What do you do when redemption period has expired? If the lien has not been redeemed, you as a lien buyer will have to do one of the following in the list below, depending on the jurisdiction.

* In some jurisdictions, you need to apply for a tax deed and give evidence that you have advised all the parties of interest.

* In others, the application for tax deed includes a number of other prerequisites that you must accomplish as part of the process. Again, it is your obligation to know the requirements.

* Other jurisdictions need that you foreclose on the property based on the tax lien. Where the foreclosure is needed, you must always have knowledgeable counsel for this process.

The process of perfecting your ownership interest based on the tax lien will depend by state and it is extremely important that it is done wisely and properly. Remember that the courts can be reluctant to just give off one’s property to someone else and they will tend look for reasons to prevent doing so.

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