Dallas-Fort Worth Real Estate Investor Club

Tax deeds

  • 28 Oct 2017 1:07 AM
    Message # 5404494
    Deleted user

    So, I am researching this subject.

    This is what I think I know:

    1. Tax deed takes priority over all lender deeds of trust.
    2. Is subordinate only to IRS and other Fed or state liens.
    3. IRS lien has 120 days redemption period
    4. Previous owner has redemption period to pay cost +50% to redeem property
    5. Title Insurance is not possible during redemption period
    6. Only necessary maintenance is refundable if redeemed
  • 28 Oct 2017 9:15 AM
    Reply # 5408816 on 5404494

    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).

  • 01 Nov 2017 1:27 PM
    Reply # 5489771 on 5404494
    Deleted user

    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?

    Last modified: 01 Nov 2017 1:31 PM | Deleted user
  • 15 Nov 2017 10:38 AM
    Reply # 5587656 on 5404494
    Deleted user

    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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