Tax auctions - Posted by ernie lipford

Posted by Ronald * Starr(in No CA) on September 09, 2003 at 11:05:27:

Ernie Lipford-----------------

Every state has a different procedure for collecting delinquent property taxes and selling the property if nothing else works.

In WA for instance, the lender are not entitled to any proceeds from the sale of the property. The view is that they could have paid the taxes and then done their own foreclosure. If they don’t do it, tough.

Here in CA the “parties of interest” who have obligations secured by the property, including lenders, can put in a claim for the amount of money that they are owed. If things are ok, the parties of interest can get paid on their claim, in order of priority. The owner has the last position and gets the excess proceeds only if all the other parties of interest have been paid off.

So, how is it done in Tennessee? I don’t know. I suggest you either read the state statutes dealing with collection delinquent property taxes, including the sale and subsequent distribution of the proceeds or else you consult with an attorney. Oh, another good possibliity would be to talk to somebody in a treasurers/tax collectors office, perhaps in Davidson County. But, please be aware that sometimes you wrong information from such sources. That’s why reading the law yourself is preferable, in my opinion.

Good InvestingRon Starr**

Tax auctions - Posted by ernie lipford

Posted by ernie lipford on September 09, 2003 at 09:41:48:

I’m considering buying tax delinquent properties in Davidson County, TN before they go to auction. I assume that the lender gets paid whatever is collected at the auction after the county collects its share of the taxes. Is that correct?