Alabama Tax Deeds - Posted by Dan O

Real Estate Investing
1

Posted by Nate(DC) on July 01, 2003 at 20:19:07:

I find it somewhat amusing that you feel you need protection from unscrupulous lawyers, who are depriving you of the pursuit of…profits :slight_smile:

I have no info for you, just thought it was a funny example of the entitlement mentality.

NT

2

Alabama Tax Deeds - Posted by Dan O

Posted by Dan O on July 01, 2003 at 18:32:27:

I need to research the proper methods in converting my tax deed into an actual ownership title/deed.

I am convinced that there are steps that one can take without involving legal counsel until the last few steps in the acquisition process. Several attorneys consulted seem to only bring out the greed when they begin to recognize the profit potential and their fees begin to skyrocket. There should be a law to protect the innocent from these so called public defenders.

Any thoughts… Anyone?

Dan

3

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 My information could be out of date, & I would appreciate any updates.

4

Re: Alabama Tax Deeds - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on July 02, 2003 at 24:27:30:

Dan O–(AL)---------------------

Get to the law library. Read the Alabama law relating to conversion of a tax deed to a property deed. Then you will know what to do.

Good Investing**************Ron Starr*************