I am trying to locate the law that says if you get a house in foreclosure that all of the prior liens of record are wiped out by the foreclosure. That is true isnt it? I dont know about tax liens but regular liens are wiped out right? but i cant find the law to back me up. I know it is out there!
2006-12-25 10:31:01 · 3 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Typically on a foreclosure, you get the right, title and interest of the lienholder. If the property tax lien has a "superpriority" it may have priority over earlier liens (not sure) but with tax liens, only the junior liens are wiped out. So if the house has a first and second deed of trust and a couple of judgment liens as well as the tax lien, which you have stepped into with the foreclosure, none of the earlier filed liens will be wiped out. The general rule with tax liens (other than property tax liens which have their own rules) is "First in time is first in right".
2006-12-25 12:59:43 · answer #1 · answered by mattapan26 7 · 0⤊ 0⤋
in case you will need financing to make the acquisition, you ought to in all probability call some community creditors and pose that right question. With the topsy-turvy international we are in at the instant, I wager the standards adjustments as we pass by 2009. needless to say your historic previous in the previous the foreclosure and because will in all probability have a good bearing. My intestine reaction is that if the style of vacant properties simply by foreclosure advance, we'd even see some very inventive suggestions to getting the properties offered. i'm hoping the concepts are good ones, however. i do no longer desire to verify historic previous repeat itself. i've got have been given my palms crossed. good good fortune.
2016-11-23 16:57:03 · answer #2 · answered by richeson 4 · 0⤊ 0⤋
Try the site below. Make sure you change the state to CA. Hope this helps.
2006-12-25 11:47:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋