How Do I Purchase A Tax Certificate In New Haven, CT
I found a property with taxes owed. Owner deceased and no known family. Thought if I paid the taxes, and could get a lien, I would be 1st in line for posession of property that has no mortgage. Am I way off base?
You are not way off base.
Inquire if the taxes are delinquent and the process required in that county to acquire tax delinquent properties (it can vary county to county).
Is CT a tax lien or tax deed state?
Any party with an interest in the property (including "nearest living relative" -- including cousins, nephews/nieces etc. ; estate executor, and other legal entities with a ownership claim) is entitled to take ownership of the property.
My point here is even though you did not find anyone so far, several surprises can still happen where you do not get uncontested ownership without a challange.
My advise -- take a low profile, get in a first position by paying delinquent taxes and follow the legal process to acquire the property via the redemption route.
If you find parties come forward with a legal interest, offer to buy via short sale if you are not willing to wait to see if they default on the taxes over the redemption period.
You sound like you have found a great situation, with some luck you might acquired a property for pennies on the dollar.
Let us know how it turns out.
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Thanks for the advice. I really don't know whether CT is a tax lien or deed state. I am guessing tax lien.
However, there is a substantial taxes owed on already. I am afraid to pay if I am not going to receive my money back, or the property. I agree with your advice to take it slow. I just don't want foreclosure to begin when they realize the woman who had amnesty is deceased.
If it is a tax lien you will get your money back (plus interest) if someone can legally take ownership from the deceased. Your interest rate will be much better than what any bank is offering right now.
Your only real risk (assuming the property is OK) is that the estate files bankruptcy. Even then you get your money back, the interest is typically changed. It sounds like this risk would be very small.
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Your local tax assessor should be able to give you the information that you need.