2007-05-10 16:09:49 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Pay outstanding property tax on what? It's not your's anymore.
2007-05-10 16:18:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I don't think so. The foreclosure is brought by the mortgage company or bank. Property taxes are assessed by government. If you pay the property tax it has nothing to do with the foreclose. You don't gain interest in a property by paying the taxes. Government doesn't care how much is owed on the mortgage but the mortgage company will pay the outstanding taxes if the property goes up for tax sale and then they will gain legal title to the property.
2007-05-10 16:24:37 · answer #2 · answered by whalenfree 3 · 0⤊ 0⤋
You can pay the property tax and have a tax lien on the property. I believe you are allowed to make quite a bit of profit from it but I don't think it allows any controlling interest on the property itself, just a lien.
2007-05-10 16:29:11 · answer #3 · answered by Ret. Sgt. 7 · 0⤊ 0⤋
No. The foreclosure changes the ownership, but it does not put you in line for it unless you are the foreclosing creditor.
2007-05-10 16:20:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋