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General / Tax sale question
« on: July 01, 2008, 07:28:50 AM »
Hi everyone, I have an odd question.
What are the risks of buying a tax-sale property given you know the following circumstance:
1) A person dies leaving the estate to someone named in a will
2) The executor is...incapable... and does not complete the process. property remains in the estate
3) Property vacant for 10+ years
4) Next-of-kin apply to have a new estate trustee
6) Property Taxes are not paid eventually triggering tax-sale
7) meanwhile a tax-sale is still scheduled...
The title appears free and clear... can't find any leins etc
Is it likely the tax-sale will simply be cancelled and more importantly, are there really any added risks to purchasing the property at auction as a result of the above?
I don't know too much about liens but I wonder the implications of the tax authorities selling the property of a deceased in which the property should be disbursed by the trustee...
Alex
What are the risks of buying a tax-sale property given you know the following circumstance:
1) A person dies leaving the estate to someone named in a will
2) The executor is...incapable... and does not complete the process. property remains in the estate
3) Property vacant for 10+ years
4) Next-of-kin apply to have a new estate trustee
6) Property Taxes are not paid eventually triggering tax-sale
7) meanwhile a tax-sale is still scheduled...
The title appears free and clear... can't find any leins etc
Is it likely the tax-sale will simply be cancelled and more importantly, are there really any added risks to purchasing the property at auction as a result of the above?
I don't know too much about liens but I wonder the implications of the tax authorities selling the property of a deceased in which the property should be disbursed by the trustee...
Alex