Superiority Of Liens
When buying property at a Sheriff's sale, how does one know which Mortgages/liens will survive the sale and which will be erased ?
When buying property at a Sheriff's sale, how does one know which Mortgages/liens will survive the sale and which will be erased ?
thanks,
but which liens survive after the auction and the first mortgage is paid off? Does the overage go to pay the liens? If there is not overage what happens to those liens?
I hope someone will answer this question. I'm still trying to find out also about Florida liens and which ones survive the foreclosure process.
thanks
The superiority of liens generally tends to be based on the order by which they are recorded The law relating to the superiority of mortgages takes priority over any prior or subsequent claims or liens attaching to the property through the mortgagor
[addsig]
That is indeed the million dollar question and can vary dependant upon State and Federal law and to provide the depth necessary can not be answered in a few paragraphs, as an investor you need to research your State and Federal laws on this issue, I would highly recommend taking a course specifically in the area of foreclosure investing.
[addsig]