So, I am researching this subject.
This is what I think I know:
Lien Priority
1. Ad Valorem taxes
2. Deed of trust/Mortgages
3. IRS
4. Mechanics/Materialmans and other judgements ( these liens and judgement if not foreclosed within a 1 year period are subject to being dismissed).
So, if the Deed of trust owner doesn't show up to bid at the foreclosure his lien is wiped out?
IRS has 120 days to redeem the new owner (purchaser of the tax deed) or their lien gets wiped away as well?
Is that accurate?
Does anyone know a title company that would write a policy on a property acquired with a tax deed at auction before the redemption period had expired if I had a signed contract between myself and the previous owners showing that they had conveyed their right of redemption to me.
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