Florida Tax Lien Question
Hi, I'm trying to understand the Florida statutes about this matter, but couldn't find any answer to my question.
What happens with the following year taxes if the tax lien certificate holder don't ask for a tax deed sale of the property? I know that the lien certificate holder after two years can ask for the tax deed and foreclosure on the property. Then the property goes to a tax deed auction and the winning of that auction will pay for all taxes owed and interest plus any fee. I also learned that the lien holder have up to seven years to take a tax deed. What happens to the taxes of the following years if the tax certificate owner waits for more than two years to take the tax deed and foreclosure the property? Is the tax certificate holder allowed to pay for the next years taxes and keep collecting a max 18 % interest?or the property goes again to another tax lien auction for biding on the interest.? Can a property have more than one tax lien certificate owner for different years? and finally, If the tax certificate owner wants to keep the property after the two years ,Can he just ask for the tax deed and take over ownership or the property have to go to a tax deed auction automatically?
Thank you
Ok, guys I already found answer to the last question, but haven't found anything on the others. So , again, If I buy a tax certificate in May 2004, I'm paying the county for the taxes owed for 2003 right? ok, on May 2005 if the property owner hasn't paid yet, another year tax (2004) goes without being paid. Everything I have read says that after 22 months I can surrender my tax lien cert. and get a tax deed and send it to the tax deed auction. Then I have read that the minimum bid at the deed auction is the taxes owed plus the interest plus any other fees. If the property is sold at the deed auction I get paid my investment plus the interest. But what happens if I wait for 5 years (till 2009)and the porp. owner doesn't pay anything? What happens to unpaid taxes for 2004 to 2008? Am I allowed to keep paying the taxes owed year after year at max interest? or Every year a new lien is added to the property and goes to a tax lien certificate auction?. It says that after 7 years the tax lien certificate expires so, if I don't ask for a tax deed after the second year and before the seventh year I loose my money. Also if I get a tax deed and send the property to a tax deed auction and the property isn't never sold, Do I get my money back plus interest?in other words , the county pays me and put the property in the tax land available for sale list? I haven't found any answer to my questions in any place and the Florida statutes are a mambo jambo I don't understand. Any response in greatly appreciated
Thank you
[ Edited by fac on Date 12/13/2003 ]