I ve been told I,m not responsible for said property but I keep getting property taxes due foe this property.
You are responsible for the taxes and complying with local ordinances regarding keeping the lawn mowed, etc. until the property is no longer in your name. That could take years. Your surrender of the property eliminates your liability for the mortgage payment. That's all. Everything else you remain responsible for. I also recommend you at least keep liability insurance on the house until it is no longer in your name because if someone gets hurt on your property they can still sue you until the property is no longer in your name.
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Until the lender forecloses and takes title, or the property is sold for delinquent taxes, you are still the legal owner of the property. You will continue to get tax bills until someone else takes title to the real estate. As Mr. Caldwell said, it is wise to maintain proper insurance on the property in case some one is injured while on it and sues you. If this was a house and you have normal homeowners insurance, that insurance will not protect you if the property is vacant. You need a different type of insurance policy on vacant property so talk to your insurance agent.
Nothing in this response creates an attorney-client relationship. The answer is provided as general information and cannot be relied on due to the many factors that can impact any situation when all of the relevant facts may not have been included.
The other two answers are 100% correct. Sooner or later there will be a foreclosure auction or a tax sale which will formally transfer title to someone else. If you really want to stay on top of this, find out which local newspaper lists foreclosure and tax sale notices, and get into the habit of skimming through those listings. You might have to monitor more than one newspaper, because some foreclosure lawyers might use one paper, while others will use another.
Another good indicator is your own personal mail. When a foreclosure is scheduled, many businesses send advertising letters for bankruptcy services, or credit counseling, or loss mitigation. If you are still getting the mail that would go to that address, then that might be the best and cheapest way to be on the alert for a pending sale. Be aware that a notice of a pending sale or auction does not necessarily mean that it will really happen, because someone still has to buy the property for it to go through. But it's a pretty good sign.
One last thought. Your local County Register or County Trustee may have one or more websites that identify owners of real estate Knox County. Find out if they do, and if so, figure out how they work. Check them every few weeks to see if anything changes. If there is a tax sale pending, that will show up in the County Trustee's records. If there is no such website, find someone that you can talk to at the County Register's office, whether in person, or by phone or email. They should be able to look it up with a few keystrokes on their computer.
I hope this helps.
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