redemptions
as a matter of fact, I just got back from tax sale here in Dallas. Unfortunately I didn't take enough cash to buy the property I wanted...and was outbid. Now I am thinking that I can contact the old owner (who moved back to France) and try to give him $1000 for his right to redeem. Does anyone know if such a plan is permitted. Can the owner sell and assign his redeeption right to me??
He can sell you the property, then as the new owner you can pay the back taxes.
You mean the owner can sell the property to someone else without first redeming himself first?
The seller would be selling you all rights title and interest that they have in the property ,including the right to redeem. Sounds like you are on the right track working with the owner.
IMHO - I don't believe the previous owner has a title to sell in this situation. I believe only the previous owner can redeem. The original idea of paying the previous owner to redeem will work, but as I read the Code section below, it needs to be the previous owner - with a valid claim to ownership - who actually has to go through the process.
Sec. 34.22. Evidence of Title to Redeem Real Property.
(a) A person asserting ownership of real property sold for taxes is entitled to redeem the property if he had title to the property or he was in possession of the property in person or by tenant either at the time suit to foreclose the tax lien on the property was instituted or at the time the property was sold. A defect in the chain of title to the property does not defeat an offer to redeem.
(b) A person who establishes title to real property that is superior to the title of one who has previously redeemed the property is entitled to redeem the property during the redemption period by paying the amounts provided by law to the person who previously redeemed the property.
Let me expand the situation on those tax foreclosures here in Texas. Ok, suppose I do obtain a deed from the foreclosed owner which gives me the right to redeem. Now suppose I decide to forego redeeming the property and opt to apply for the overage paid into the registry of the courts. Does that deed from previous owner also give me the right to claim that overage that the previous owner may not be aware he could claim?
Buddy--(TX)-------------------
If you can get ahold of the former owner and make a deal to buy from that person, sure, you could do it.
Use a quit claim deed which transfers to you all the rights of the former owner. Record it before you pay the delinquent property taxes.
The former owner will likely have to go to an American Legation or Ambassador to sign in front of a USA governement official for the deed to be good. You may need to do some research on this topic. I've never heard of it, but perhaps you could hire a Texas notary to fly over to France and notarize the signature of the former owner. Might make the notary a friend for life. Or at least a couple of months.
Good Investing**************Ron Starr***********