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Are you delinquent in paying your taxes?If so the answer is- maybe.
If your taxes weren't in default- then no.
Here in Colorado we have what are called "tax lien auctions" The other states have these or variations thereof.
Let's say you don't pay your property taxes.
The government wants/needs this money to fund it's operations- such as police, library, etc.
After a certain amount of time in default-the government steps in and takes action via a tax lien sale (or similar action)
Investors (like me) pay your delinquent taxes.
The tax lien pays a high interest rate- which is paid in turn by the delinquent tax payer.
Here in Colorado- if I pay for 3 years (because the owner hasn't) I can file paperwork and claim the property.
This rarely happens because either the owner pays-or the lien holder steps in an takes the property. (non payment of taxes is cause for foreclosing on most mortgages)
If you do pay your late taxes- with interest- you can keep the property- but only if the maximum redemption period has not yet expired.
Different states have different procedures, rates of interest incurred, and redemption policies.
Go to your state and county websites and run searches for delinquent taxes and tax lien sales.
I hope this helps and that you can keep your property!
Anthony
There are a few circumstances where this can happen if you have not paid the property taxes on time. Generally you would need to be in the rears several years. Each state has different laws regulating how this works and you would have received several notices of the back payments due.
in arrears. not in the rears.
u left out alot
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