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Minimum Tender Amounts
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Topic: Minimum Tender Amounts (Read 11612 times)
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ruok
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Posts: 70
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Minimum Tender Amounts
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on:
March 07, 2014, 09:44:35 PM »
I know this topic has been discussed numerous times but I still think that the minimum tender amounts are sometimes extremely padded in favour of the Municipality. Twp of Brudenell, Lyndoch and Raglan have listed an old mining property with a minimum tender of $12,500 however the tax arrears certificate is in the amount of $2,987. I realize they can increase the amount to offset some of their costs to conduct the sale but adding $9,513 seems a little excessive.
Is there no protocol in place or can they do whatever they please?
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dogmacanada
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Re: Minimum Tender Amounts
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Reply #1 on:
March 07, 2014, 10:20:54 PM »
Do revenue of canada liens becoming new owners responsibility
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ruok
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Posts: 70
Karma: 6
Re: Minimum Tender Amounts
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Reply #2 on:
March 10, 2014, 01:56:18 PM »
Crown liens should not affect the minimum tender but they can certainly affect the new owner. In this case there does not appear to be a lien on the subject property but you do have to be extremely careful because of its history.
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ruok
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Karma: 6
Re: Minimum Tender Amounts
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Reply #3 on:
March 10, 2014, 02:56:38 PM »
Sorry Dogma, think my response was a little vague. Crown liens will survive a tax sale and subsequently be the responsibility of the new owner.
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Minimum Tender Amounts