Deliquent Property Taxes Due After Foreclosure Auction?
I bought a foreclosure property at the courthouse in late September 2006 and recently received a notice from the county about deliquent property taxes for 2005. I have received the substitute trustees deed to the property. My question is, am I responsible for paying the previous owners back property taxes for 2005 and the majority of 2006 since those were also unpaid? I can understand that I would be responsible for the taxes after the auction since I owed the property. If so, does the county have any recourse at this point? Thanks
Property taxes are senior to all liens. Yes you are obligated to pay the delinquent taxes. The county can foreclose if you do not bring the taxes current[ Edited by sanjosee on Date 02/26/2007 ]
The County taxes have priority over everything. Even if the property is held "Free & Clear".
You really should be doing your homework before you bid on stuff. What if there had been a huge IRS Lien? Your lucky it was just a little property tax lien. A quick check with a title company saves a lot of bacon. [ Edited by ChrisSanDiego on Date 03/09/2007 ]
The taxes are how your local government survives. I really doubt that they would just eat the bad debt, but maybe it varies from state to state. You need to do a titlle search and then do a tax assessor search to make sure you know the tax situation on that property. A tax lien will not usually be placed on the property until the taxes are 2-3 years old and so it will not show up on your title search....learning cost $ whether it is college or RE.