Posted by Tim (Atlanta) on December 30, 1999 at 07:07:32:
It will depend on the state the tax lien certificate was purchased in. In Georgia, once the redemption period is passed, and you get the tax deed, all mortgages except IRS liens are eliminated. You are correct in that all parties with an interest in the property must be notified before foreclosure of the tax lien. Perhaps you should wait until the investor gets the tax deed, then purchase that from him. You won’t make any interest from this tax lien, since it has already passed the redemption period. You will need to purchase the tax deed at a substantial discount from the fair market value of the property.