tax liens; which states do NOT have the right of redemption?

Question

I am interested in buying a tax lien on a mobile home in 2009 or 2010 for personal use; with a PURCHASE budget of $500-4,000. (not including lot rent)

I'm looking for a single-wide, and I only need one bedroom and one bathroom, though I'm sure I'll get more than that.

I'm interested in metro's with at least 150,000 people in any of the following states: minnesota, wisconsin, tennessee, alabama, arkansas, oklahoma, texas, kansas, nebraska, missouri, iowa, new mexico, arizona, nevada, oregon,washington, and california.

So, to ensure that I get my title right on the spot (if I understand this all correctly), which of these states do NOT have the right of redemption law applying to government sold tax liens?

...and west virginia, virginia, and mississippi

Answer 1

I am not an expert on the tax lien area. However, by the nature of the tax lien itself: The investor must wait a specified period of time (referred to as the "redemption period"), during which time the property owner (or someone with an interest in the property) may repay the lien with interest. Usually the lien holder is not permitted during this period to contact the property owner (or anyone else having an interest in the property, such as the mortgage holder) to demand payment or threaten foreclosure, or else the certificate can be forfeit.

In some jurisdictions, the lienholder must agree to pay subsequent unpaid property taxes during the redemption period in order to protect his/her interest. If the lienholder does not pay such taxes, a subsequent lienholder would "buy out" the prior lienholder's interest.

Once the redemption period is over, the lien holder may initiate foreclosure proceedings. The proceedings (the costs of which must be paid by the lien holder, though a redeeming property owner may be required to pay them as part of redemption) may result in either acquiring title to the property (normally this will be a quitclaim deed and not insurable title), or a tax deed sale of the property where the lien holder has the right of first bid (and may participate by making additional bids if s/he so chooses). During the period between the initiation of proceedings and actual foreclosure, the property owner still has the opportunity to repay the lien with interest plus the costs incurred to foreclose.

If the lien holder does not act within a specified period of time as defined by state law, the lien is forfeit and the holder loses his investment. Also, a lien issued in error of state law is repaid, but usually at a far less interest rate than had the lien been valid.

So I do not know your question is.

Answer 2

Tax liens redemption process in California