Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: Dowop on August 15, 2013, 11:59:37 PM
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Been quite awhile since I graced this board. But being one to always keep an eye out for any opportunity I find myself back and its good to see the regulars still here. I see one of the better properties in the upcoming Haldimand bid ( Brad Pitt starred in " A River Runs through it") seems to have a very significant lien on it from Superior Family Court. I remember seeing this a few years back on another property in Tiny and I passed on bidding that one because of it. My question for discussion if it pleases anyone is "would the lien from the family court survive the tax sale ?
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The aspect of whether this type of lien survives the tax sale is not an easy one to answer. It goes to the root of aggravation for many of us. The problem is twofold. Firstly the act does not define "interest of the crown" so we really do not know whether a remote interest such as this survives, and to my knowledge there is not yet any case law to give us a judicial clarification. The predecessor act was more helpful but there, as I recall it, interest of the crown was just interest in land which runs with the patent such as the right to white pines, timber rights, mineral and mining rights etc. Secondly even if the lien that you mention is not intended to survive, it still sits on the title because the municipality is not required to remove anything. Therefore even if it was originally intended to not survive you sit there with a stale mate - no one will buy the property, and the lien holder may not be able to sell it either. It is best to stay away from this type of thing because there always seems to be lots of newbies who do not do their homework the way you have, and bid big bucks without fully understanding the risk. When to hold, when to fold, and when to run sounds easy but is in fact difficult, and what prudent tax sale investing is all about. Run from this one!
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Thanks for the earlier reply g2020. I totally agree with your assessment. I also thought it would redeem, but it looks like tomorrow someone will be the proud new owner of a big mess. I was still considering getting cute with a low ball bid for a couple days there, thinking an arrangement could probably be made. But it is just too messy combined with other "Hazards" that exist on that property. I will not be bidding it. A gift for anyone planning a run at the Potato patch. You may want to be aware what is proposed next door.
http://ontario-wind-turbines.org/owt-maps-c1.html ....Hope no one over pays. (I almost missed this,).
Regards: No bid Dowop. :-*.
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Regards: No bid Dowop. :-*.
Any one got the results. This guy 8) probably just went to bed after being up with the drag racers all night. ;D
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8) might just as well have stayed up with the drag racers - the house on 10 acres just up the street from Cayuga Raceway was paid the day of the sale. The two good houses were also redeemed. That is the way things have gone this year - the reasonably good stuff gets paid just before the sale, and at the sale we are left with a sprinkling of junk. Maybe Dave2 has found the winning strategy and we have just failed to recognize true genius. Focus on the junk and be a winner every time! Hmm.
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8) might just as well have stayed up with the drag racers - the house on 10 acres just up the street from Cayuga Raceway was paid the day of the sale. The two good houses were also redeemed. That is the way things have gone this year - the reasonably good stuff gets paid just before the sale, and at the sale we are left with a sprinkling of junk.
G2020:
Its still the last days of summer. No one ever gets a win in summer because all of the city dwellers come out from Toronto and bid Toronto city prices or some idiot contacts the owner who redeems the property.
The most important thing for a wolf in summer is to get a tan on your muzzle. After labour day is over then we can get then get back to serious things like getting ready for a bid.
Of course you can make me a big offer for the house I may or may not have got at a tax sale. (see photos).
Originally I was hoping these guys could use it for their upcoming party but they said it was a little small.
http://ontario.kijiji.ca/c-real-estate-other-Looking-for-Prime-Location-for-EDM-Channel-Promo-video-W0QQAdIdZ518816171.
We can negotiate the price over that beer(s) I owe you.