Ontario Tax Sale Property Forum

Tax Sale Forum => Questions and Answers => Topic started by: dainuclear on January 27, 2006, 10:51:59 AM

Title: Can the owner redeem property once it's in arrears?
Post by: dainuclear on January 27, 2006, 10:51:59 AM

Hi All
       Rob love the site.  Question: Once a municipality has went through the process; but the auction has'nt closed; can the owner pay the taxes and redeem the property?  Is this common?  Thank you to all who may reply.                                    

d

Title: Re: Can the owner redeem property once it's in arrears?
Post by: Rob on January 27, 2006, 03:58:32 PM

Upto the last minute the own can pay the unpaid taxes.  Going over to the property before the sale and asking the owner to see the inside might be a good idea for some property types, it can also scare the owner into finding the back taxes if the three notices didn't alert the person beforehand.

Title: Re: Can the owner redeem property once it's in arrears?
Post by: Frank on January 31, 2006, 04:29:23 PM

Under a recent court ruling, the owner can now redeem the property right up until a tax deed is registered in your name (assuming you are the successful bidder). 

It is therefore very important that you don't delay in getting the balance of your money to the municipality, and signing whatever paperwork they require (usually only a land transfer tax affidavit). 

Once the deed is registered to you the game is over and it is yours.