How to Do a Title search on Tax Lien and Tax Deed Properties

Foreclosure - How to Do a Title search on Tax Lien and Tax Deed Properties

Good evening. Today, I learned about Foreclosure - How to Do a Title search on Tax Lien and Tax Deed Properties. Which is very helpful if you ask me so you. How to Do a Title search on Tax Lien and Tax Deed Properties

When you do a title quest basically what you are finding for is Marketable Title. Marketable title is positively the absence of liens and clouds, the absence of Irs liens, and the absence of missing links in the chain of title.

What I said. It is not the final outcome that the actual about Foreclosure . You check out this article for facts about a person want to know is Foreclosure .

Foreclosure

Missing links in the chain of title could be for example when the primary a person owned a property for 40 years and then passed away and his kids started paying the taxes and finally they want to sell the property. Well if there was no probate or no will or anyone like that, then there is no indication of who should receive this property. It might be that the deceased's will was to give it to his church. It might be that he mentioned to somebody, "You know what, when I die you'll get this property," and this person might even have a witness. Nobody can prove anyone and the only clarification here is to have the heirs go through a probate policy to clear the title. For that you or they will most likely need to hire an attorney and it will take a few months.

If you invest in such a property through a Tax Lien Sale, or buy the actual property at a Tax Deed Sale you don't have to worry about that, on the contrary, if you find information prior to the auction that shows such an issue existing it is a Sign indicating to you that is property is more likely to go all the way to tax Lien foreclosure or all the way to the Tax Deed sale. If your investment strategy is to get the actual property, then that is a property you Want to focus on.

Now just as a side note. Even if you buy Tax Delinquent Properties directly from the long time owners, some of my best deals came from situations like that. I bought a property in Florida where I paid for the Probate procedures having a written, legally binding commitment from the heirs to sell that property to me for nearby 0.00 after the probate was through. The probate cost me 00.00 for a total cost of purchase of ,850.00. Days later I sold the property for just under ,000.00 Cash.

Probate issues do come up in the Tax Delinquent property arena, but it's regularly quite easy to fix them. Most sellers were smart adequate to buy a piece of land or a property or a house and take title as what is called joint tenants with right of survivorship. It means very simply that if there are two people on the deed and one of them passes away, the other one automatically owns 100% of the property. All that is needed to get the deceased party off title is to description a death certificate. But if a death certificate is not recorded, then the county does not know that that person has passed away, so therefore if the widow now wants to sell this piece of property, then there's a cloud on title. If you buy it from her, you're not going to have a clear title to sell until her spouse's death certificate is recorded.

I hope you receive new knowledge about Foreclosure . Where you can offer easy use in your day-to-day life. And above all, your reaction is passed about Foreclosure .