AL Tax Liens & Foreclosure / Bankruptcy
I'm considering purchasing tax liens in my home state of AL for the rate of return provided (not necessarily the prospect of acquiring a deed due to the 6 year redemption period). However, I'm curious as to whether anyone here has any knowledge of how AL law typically treats tax liens when a property is foreclosed (say by the mortgage holder) or when the owner declares bankruptcy.
Does anyone have any experience with the risk to the tax lien in AL under these scenarios ? Does the tax lien usually / always / never / occasionally survive ? Is only the interest at risk but the principle safe ? Any input is appreciated. Thanks in advance.
Regards,
Talas
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