Question For Experienced Tax Deed Investors/Quiet Title Info Needed
I recently purchased a vacant parcel of land at a tax deed sale in florida.Prior to the sale i researched the title to the best of my knowledge. There were no govt or irs liens or mortgages attached to the property. The only thing i'm questioning is there seems to be a cloud on the title. This particular piece of land was first bought through a special warranty deed in 1982 , changed hands through a warranty deed in 1983 to two brothers , then the brothers held the land until 1989 where one of the brothers quit claimed his interest in the property over to someone else. During the time of ownership from the two brothers and one of the brothers quit claim of interest in the property no one was paying taxes on the land. The land went to a tax deed sale in 1990 where it changed hands again in the form of a tax deed to an investor.From this point the investor paid taxes on the land kept it current then quit claimed her interest in the property in 1997 to someone else i'm assuming family or relative because there is no sum for the land it just states for the sum of love and www.affection.This property remained under her name only for the last 7 years from the title work i had researched .She was not paying taxes on the lot and therefore a lien was issued on the property in 1997 the lien holder bought it to tax deed sale in 2004 which is where i purchased the land. My question is since the cloud on the title dated back to 89 where only one of the brothers quit claimed himself off would i need a quiet title lawsuit or am i well within the time limit which in florida i believe is 4 years for an automatic quiet title.Since this proprty changed ownership many time and through a previous tax sale i'm curious as if i should just apply for title insurance on the said property since the cloud dates back in 89 and since it was in the previous owners name for 7 years with no deed transfers would it also be prudent for me to contact the previous owner and ask for that person to quit claim her interest in the property so for title insurance purposes it will look better??I have contacted an attorney on this matter but am wondering if this quiet title really needs to be done on this particular property for the reasons i stated above or do i look like a cash register to him>?cha ching, any help would be appraciated on this matter. also is it to my knowledge that any overbid on the property at the deed sale if there are no liens goes to the previous owner and if thats the case i see no problem in getting a quit claim for her interest since that person had actually made money off the sale??I'm think i only need to worry about the last property owner who held it for 7 years on the quit claim issue??thanks for anyone with experience on this matter for their input>......
I think what I would do is go to a title company and try and refinance the property. Have them pull the search and let you know what work needs to be done, if any at all. 21 years for an adverse possession claim, 7 if you have color of title -
However, I dont think you need to go that route because a proper tax sale will wipe out the brother's interest.
dannynj--(FL)---------------------
My advice is similar to that of Razzio(GA).
However, I'd not open an escrow to refi. I'd just call up the title officers of a few of the title companies and talk to them about the situation.
Getting a quitclaim deed from the former owner is a very fine way to go, provided it does not cost you too much. You might start off offering $50.
Good Investing*************Ron Starr***********
thanks for your feedback
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On 2004-10-14 14:29, dannynj wrote:
My question is since the cloud on the title dated back to 89 where only one of the brothers quit claimed himself off would i need a quiet title lawsuit or am i well within the time limit which in florida i believe is 4 years for an automatic quiet title.
You misunderstand the 4 year rule. The 4 year clock started running on the day you bought the property at the tax sale. You can sit on it for 4 years and and the title will be automatically quieted if no claims are made from any of the previous owners. Or, do the quiet title work. It will take 4 to 6 months and cost you somewhere around $1200 to $1500. Good luck.
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On 2004-10-25 01:20, GeneralSnafu wrote:
Quote:
On 2004-10-14 14:29, dannynj wrote:
My question is since the cloud on the title dated back to 89 where only one of the brothers quit claimed himself off would i need a quiet title lawsuit or am i well within the time limit which in florida i believe is 4 years for an automatic quiet title.
You misunderstand the 4 year rule. The 4 year clock started running on the day you bought the property at the tax sale. You can sit on it for 4 years and and the title will be automatically quieted if no claims are made from any of the previous owners. Or, do the quiet title work. It will take 4 to 6 months and cost you somewhere around $1200 to $1500. Good luck.
A good title agent should be able to answer the question and do the work.
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On 2004-12-22 10:53, jskubick wrote:
Does a Florida quiet title suit HAVE to be filed in the county where the property lies?
Yes, the suit must be filed in the same county as the tax sale occured. If it is necessary to publish, that is also required in the same county as the sale occured.
This site has some basic info
http://www.realestateprobate.net/faq.htm
I have learn form u guys a lot!!!
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On 2004-12-24 14:07, linlin wrote:
This site has some basic info
http://www.realestateprobate.net/faq.htm
ITS TRUE! I LIVE IN DADE-COUNTY AND IT WILL TAKE FOREVER TO QUIET A TITLE IN HERE! ITS BETTER TO FILE THE SUIT OVER WHERE THE TAX DEED WAS HELD! THE TITLE COMPANIES WILL BE EVEN CHEAPER! REALTOR-KNOWLEDGE!