Got A Property Via Tax Lien. Now What?
I was able to get a Missouri property via a tax lien. Now what do I do? The property has house which someone is living in. Has a morgage. Title Company didn't catch the tax lien when this person bought the property last year. The County has already given me the certificate of deed.
I want to sell the house. I guess I need to know what type of attorney to use to evict someone.
- Thanks
Simple for you to find out what you've got.
Find & call a MO title co., get prelim title and then ask their title officer what you have to do now, if anything more, to sell & pass good title to your new buyer.
If you've indeed got the deed, then likely you've got every right to sell, pass the title, etc.
[addsig]
Thank you for the input, that was very helpful. I'll seek out a title company tomorrow and get that rolling. I've only been doing this for two years and this is my first obtained property, so I'm somewhat stunned and lost. I think you've got me going now. Thank you very much.
ddexter--(DC)-------------------
You might find it faster to simply approach the people that think they own the property and offer to sell it to them.
If it is true that their title company screwed up, the title company may be willing to pay you to make the problem disappear.
Incidently, when you try to get the people out you will not be doing an eviction. You have no rental agreement with them so you will be doing an ejectment action.
However, when you start to do that, I anticipate that you are going to run into some resistance. They probably have a loan on the property, there is the title company who did the escrow, there is actually quite a mess here. Likely you will find yourself facing a lawsuit trying to dispute your deed.
Nope. My suggestion is to try to make the title company pay for the error.
Good Investing***********Ron Starr**************
Thanks for your input as well. Found out this is going to get interesting. Property changed owners while there was a tax lien against the property. I have a feeling the person living there is going to end up sueing the title company and hopefully we'll settle. If nothing else, having an attorney familiar with the process will allow me to learn a lot on my first house possession. Unfortunately, learning like this gets expensive.
Seems like you didn't do all your research. You will need petition the court to have the current owner evicted and you will also assume the current liens. Most likely the current owner will appeal the purchase which you will need to defend in court. To resale, you need a warrant deed instead of a quit claim deed. Seek Legal help.....Buyer beware, Stick to the Judcial Sale. :-o :-o
What do you mean still to a judicial sale/
Do you mean do not do a tax lien sale or what?
Quote:
On 2004-08-29 17:17, ddexter wrote:
I was able to get a Missouri property via a tax lien. Now what do I do? The property has house which someone is living in. Has a morgage. Title Company didn't catch the tax lien when this person bought the property last year. The County has already given me the certificate of deed.
Congratulations on your first tax deed property. However, just a note to others who might be ready to make the same leap into the frying pan. The question ddexter is now asking, is one he should have had the answer to before raising his hand to buy this property in the first place.
I can only tell you the process in Florida. I'm pretty certain it is different in your neck of the woods. I suggest you contact a title company and tell them you wish to sell and would like an opinion on the title that you hold. The whole deal may rest upon finding out if the mortgage holder was properly notified of the pending sale. Generally speaking a tax deed is only slightly better than a quit claim deed. The odds are that you will need to sue the owners of the property to quiet the title in your name.
Whatever the outcome, you are about to receive a valuable education. Good Luck.