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Updated about 6 years ago on . Most recent reply

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67
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48
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Marcus Holloway
  • Rental Property Investor
  • Indianapolis, IN
48
Votes |
67
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Tax Liens --- Worst case scenarios

Marcus Holloway
  • Rental Property Investor
  • Indianapolis, IN
Posted

I purchased my 1st tax lien (Lake County, IN) in last year's tax sale.  Though, I've hired a lawyer to comply with the deadlines and notifications within the 1 year redemption period; I waited almost until a week before the 1st deadline to do so. 

Now I'm nervous that I won't be in compliance with Indiana's eviction process because I haven't given my lawyer enough time. She has assured me, on more than one occasion, that she'll be able to comply. I still can't shake the anxiety. It's my first RE investment purchase and it's teaching me a valuable lesson in procrastination. 

My question is this: Is there a scenario in which my tax certificate can become complete worthless due to improper  eviction process? If I don't comply, will I just get my money back? 

My lawyer appears very competent....I'm just putting the question in the forum for a 2nd (3rd,4th,5th) opinion. 

Most Popular Reply

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17
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Chris B.
  • Investor and CPA
  • Georgetown, IN
12
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17
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Chris B.
  • Investor and CPA
  • Georgetown, IN
Replied

Marcus,

In Indiana you have to petition the court for your tax deed once the redemption period has ended. The court will then check the process the attorney used for noticing and the attorney will send one more round of notices to the parties identified during the title search. 

You have a time limit from the end of the redemption period to petition for the deed. Failure to do so could invalidate your lien and also forfeit your funds. You can’t start an eviction process until you have your recorded tax deed. 

Chris

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