mortgage foreclosure auction the bank sale its property by order of the court. Tax deed sale the county sale the property that the county acquired because tax are not being paid on that property.
I understand Government lien(federal, irs, city, water, local government lien) could remain on the tax deed sale property after the sale. Does any private institution can take the property back because they had a right on that property? can the bank or mortgage company ask for payment of the loan after the tax deed sale. Can an condo association ask for money that was owed on the unit because the previous owner never pay the due for a long time? in short can any body else other than the government make any claim against the unit.
It is often the case that tax deed sales to not properly extinguish claim to the property. Accordingly, many claims and liens remain. In addition, association obligations pass to the new owner, so even when someone acquires a unit via a tax deed sale, the prior owners' obligations come with it.
This is a very dangerous area to get involved in without specific legal advice relating to the particular property or unit.
Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
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