Redeemable Deed vs. Tax Lien

By dhinternational  /  August 4, 2011 / Comments Off on Redeemable Deed vs. Tax Lien

Redeemable Deed vs. Tax Lien

Redeemable Deed vs. Tax Lien

Do you know the difference between a redeemable deed and a tax lien? Well, let us clarify.

Tax Liens

Tax lien happens when the property owner hasn’t paid off the taxes long enough thus becoming delinquent. Note that the owner also needs to pay off the penalties and the interest fees of the delinquent taxes. If the taxes are still delinquent, the property can be foreclosed. The period varies state by state but the rules may differ county by county.
Now, the laws of the state administer the public notification process of the tax sales. The counties publish the delinquent property list and the tax sale auctions are then conducted after several weeks. Oftentimes, county tax sales are held annually on a specific month while notices are being published 3-4 weeks prior to the sale.

Redemption Deeds

Take note that redemption deeds do not actually mean the actual title to land. As a purchaser, you will receive the exact rights to the delinquent taxes of the property that are held by the county. The property owner can reclaim by paying all off the delinquent taxes with interest and penalty fees during the redemption period. Note that states may differ in redemption periods.

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