“soapymac”,
Thanks for your response and sorry for the delay in answering your questions.
I would prefer to purchase this property before foreclosure. Especially since I have spoken to the owner, they are in my home town, and they do not plan to contest the foreclosure or pay the required payoff. I do not want to let this go to auction and introduce the same competition that attends the tax deed sales for this area. I have asked the County Legal Dept. what title I would get if I purchase at the auction and they said “ask an attorney”! I suspect it is similar to the clouded title of properties purchased at tax deed sale. I have done Suit to Quiet Titles before and it can take up to 6 months and $1,000 if all goes well.
I have a buyer lined up and need clear title with about 90 days.
I would like to aqcuire a vacant parcel that is to be foreclosed by the local government in 3 weeks.
The title search done by the county identified a lien by a disolved corporation.
I contacted the county land records office to have this verified. It appears valid.
There is no answer on the phone number provided.
I would like to negotiate a reduced payoff for this lien but even if I wanted to make satisfaction, how would I get a release of this lien? Any suggestions?
What about contacting the State Department of Commerce to obtain the principles of the corporation?
Should I expect to have to quiet the title?
Even if I had an additional title search done, it still doesn’t solve the problem of satisfying the lien.
My .02 is Find principals if you want to at sunbiz.org to check out Florida Corporations. Usually Mortgage Foreclosure wipes liens, w/ IRS having 120 day right of redemption. Also in Florida I believe a Certified Copy of judgement had to be recorded to make it a valid lien. If it was a judgement before 7/1/87 then it is good for 20 years, After that it must be properly Renewed at 7 years w/ 2 renewals allowed. If it is a Tax DEED sale watch out for municipal and county code enforcement liens and Special assessments as they stay attached (Lawn mowing, Lot clearing, Demolitions[Esp.], utility, Etc.)
The type lien you speak of would PROBABLY be wiped out by a Tax DEED sale, as would Mortgages. Is it a Tax Deed sale? Where are you at in Fl?
I can’t figure a dissolved corporation collecting, a title co should be able to tell you what would be required for them to insure title. Whats your plans with a lot? Even if lien is valid does not mean it has to be paid by you immediately anyway… or something like that… ;0) Good Luck
What sort of title would the county be giving you, should you be the winner at the auction? Is this a tax title or tax certificate situation?
Depending on whether or not you would in the end receive a title, the lein held by the dissolved corporation may be a moot point.
The taking of property for non-payment of taxes MAY include the right of redemption by the previous owner. If the previous owner can’t be located, how do the laws work with regard to tax titles/certificates in FL?
An attorney with real estate background who offers a “no fee” first consultation priviledge may be the way to go here. Definitely get an attorney, though.
da**, good question. If the local government is foreclosing, wouldn’t this then be their problem? I.E., if you buy it in a foreclosure auction, it is the govt. responsibility to provide you with title. If you are trying to buy it before the auction, you may be able to put up a deposit with the clerk’s office in the amount of lien in order to provide conveyance. Then, after taking title, you could contest the lien, which would give them x amount of time to respond, or lose the lien. Check the laws on this in your state - believe it or not, I know of these options merely from reading the Florida statutes. If in doubt, consult an attorney.
Walt_FL,
Thanks for your response.
This is not a tax deed sale. It is a foreclosure by the Public Works Dept. of Brevard County. It is for failure to pay a water line assessment.
The title search made by the County identified the lien. I have contacted the owner and would like to acquire this property pre-foreclosure. The owner is somewhat vague but feels they have made all payments. I am hoping that it has been satisfied but expecting it to be valid. I have a buyer ready to make an offer so I have to know for sure that I can get clear title within about 90 days.
Thanks again for your post.
I believe its time to get my attorney involved with this one.