Informative Facts for Tax Lien Certificate Holders

By dhinternational  /  September 4, 2013 / Comments Off on Informative Facts for Tax Lien Certificate Holders

Informative Facts for Tax Lien Certificate HoldersDo you ever wonder what happens to lien certificate holders after a tax sale? Here are some facts that you may find helpful if you’re one of those buyers. Also, it helps clear some issues.

In order for the tax lien to be taken away by the government, the property owner should commission the total amount of unpaid taxes. This also includes any penalties and applicable interest. Then, if this is met, the government sends a check to the holder of the tax lien certificate. The check amounts to the entire price of the certificate together with the accrued interest.

However, the fact is, majority of property owners are able to cover their tax debt within twenty four months. Still, there are those who fail to redeem their properties. In turn, they lose ownership of their home. With this output, the holder of the tax lien certificate becomes the new owner of the property with just the cost of the delinquent taxes. It is a win-win situation for the lien buyers, plus there’s an assurance of safety because the whole process is conducted by the government.

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