tax lien sales/certificates - Posted by scott-tn

Posted by Ben (NJ) on November 01, 2001 at 11:32:26:

Generally speaking, municipal taxes are given a “superpriority” which means even though the lien may arise later in time, it jumps ahead in priority over earlier liens. In other words if there is a mortgage on the property from 1985 and I have a tax lien for 2000, my tax lien has priority over the mortgage. The Final judgment in foreclosure will serve to cut off
(basically extinguish) all junior liens, (yes even IRS liens are JUNIOR). There are certain exceptions to this rule. For example epa superfund clean-up liens have been given a SUPER-DUPER (yes that is the legal term, LOL) priority. Something like that could survive the foreclosure judgment, but run of the mill judgments and mortgages are junior.

tax lien sales/certificates - Posted by scott-tn

Posted by scott-tn on November 01, 2001 at 10:10:17:

Hopefully someone who has experience in this field can answer a question for me. I was listening to Dave Ramsey show yesterday and he said something I didn’t understand. I thought if you were the successful bidder at a tax lien auction, this would put you number 1 (except maybe for IRS liens). This Ramsey was saying that any lien on the property would become responsibility of the new owner if the bidder actually got the property. Please clarify if that statement is true or what the actual rules are. Has anybody had any success with either getting properties or good interest rates if property is reclaimed. Thanks everyone for your help.

It depends on the state… - Posted by David Krulac

Posted by David Krulac on November 01, 2001 at 12:45:37:

in Pa. at tax upset sales ALL leins/mortgages/judgements transfer with the property to the tax sale purchaser.