California Tax Lien On A Tax Deed Sale Property
what happens to the state tax lien (in this case, california) attached to a property sold at tax deed sale? If you purchase the property with state tax lien, are you obligated to pay it off after you the tax sale? I was reading the Q & A that under California tax code, tax lien will still encumber/attach to the title if the taxing agent does not consent to the tax deed sale. However, if a property is auctioned at a California county, it must have been approved by the board of superviser at the county, and essentially approved by the State of California. If State of california approved the sale of this property at tax deed sale, the state tax lien should not be attached to the property anymore???
I am not clear as what happen to the California tax lien that is attached to the property after tax deed sale?
Does anyone have experience with this problem?
The option consideration is paid and an option is received. The option gives you a contract interest but not an equitable interest.
You can still sell your option contract then do a cooperative assignment with the seller.
Not a legal opinion, just how I see it.
That sounds right, but then why do investors who do it wrong have to foreclose in some cases to get rid a Tenant/Optionee? These authors are saying that an Option gives no right to sell the property and so we are breaking the law.
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"A deal is only as good as the quality of your Contracts." --Me[ Edited by LeaseOptionKing on Date 03/12/2009 ]
I am only guessing here.
If the lease option agreement is poorly written (perhaps a single document that combines the lease and option) and which applies the option consideration to the down payment, then I can see how the courts can view this as a sales contract and the buyer has an equitable interest resulting from his "down payment:"
Hence a foreclosure, rather than an eviction.
Again, just guessing.