Re: Alabama Tax Deeds - Posted by Tim
Posted by Tim on July 02, 2003 at 06:37:22:
I am not an attorney, but here is my understanding of Alabama’s tax deed system. When you bid on the deed at auction keep in mind that you are buying subject to any liens/mortgages. You then have to pay the taxes on the property for 3 years from the date of the tax sale, at which time you get a tax deed & may take possession of the property. During the 3 year period the original owner may redeem the sale by paying the taxes, plus 12% on your bid price. After you have received the actual deed you may then petition the court for quiet title, or you can sell the property with a quit claim deed. Most conventional lenders won’t finance without quiet title.
I don’t go to these sales any more, because people who don’t know the rules took over the bidding process. My information could be out of date, & I would appreciate any updates.