Ontario Tax Sale Property Forum
Welcome,
Guest
. Please
login
or
register
.
1 Hour
1 Day
1 Week
1 Month
Forever
Login with username, password and session length
News:
Tax List Property Listings Forum
Home
Help
Search
Calendar
Login
Register
Ontario Tax Sale Property Forum
»
Tax Sale Forum
»
Questions and Answers
»
General Question
« previous
next »
Print
Pages: [
1
]
Author
Topic: General Question (Read 16198 times)
0 Members and 1 Guest are viewing this topic.
Smithers
Newbie
Posts: 1
Karma: 0
General Question
«
on:
January 29, 2006, 08:40:25 PM »
I am extremely new to this and am just in the research phase. I have a couple of questions. Once you the winning bidder in a sale, what happens to any mortgage if there are buildings on the property? Is the bank entitled to the building? What happens to any occupants?
Thanks for you help.
Logged
Rob
Administrator
Senior
Posts: 536
Karma: 135
Re: General Question
«
Reply #1 on:
January 30, 2006, 06:12:38 AM »
The mortgage is void at the point when the home is selling. I am not sure if they receive a portion of sale. I know the bank would seize the property if the mortgage wasn't being paid so many of the properties are paid in full and the property taxes have increased to a point where they don't get paided.
Work out a deal with the occupants or remove them from the property legally which involves a court order and at least 30 days.
Logged
Print
Pages: [
1
]
« previous
next »
Ontario Tax Sale Property Forum
»
Tax Sale Forum
»
Questions and Answers
»
General Question