Mississippi Tax Deeds

6 Replies

Here is the situation:

The property I'm looking at in Mississippi was sold at tax sale in 2004 and a tax deed was issued in 2011. The tax lien investor sold that property to the seller that I'm talking to. 

In between that time, in 2008, the original owner sold the property via quitclaim deed to a couple.  That couple never redeemed the 2004 tax lien, but has been paying the taxes since (always right before redemption period runs out). 

Does anyone have experience with confirming title in MS? A lawyer I was working with on another property said a tax deed is worthless in MS as no judges will confirm title. 

The purchase price would be very cheap, $120, but could I sell that tax deed to a neighbor with a clear conscience? What have you experienced?

Thanks!

I should clarify that this is raw land / vacant land and market value is about $18,000. 

Wow, that's a tough one.   I think that if I was in your shoes, I would contact Tax Title services.   My Grandmother passed away without giving my Dad the house in the will.   This was in MS and the process took 6 months without any title issues.   Best of luck

Joe

That is a tough one! I'm curious if you went through with the deal and how it turned out. Would you mind updating?

Sure, @Brandy Orner  

I ended up buying the tax deed from the owner (MS requires tax deeds be quitclaimed unless title is confirmed) for the $120 plus miscellaneous fees, about $200 into it total. I've listed it for $6,000 and have gotten tons of calls. I've had two people swear they were going to buy it, only to flake out at the last minute (Craigslist), but I haven't sold it yet. 

It has been an awesome buyers list generator though and it actually got me a lead to sell another property, so it's not all bad. Someone is going to look at it this weekend and I'm planning to drop the price a bit to see if I can't sell it quickly. 

Fingers crossed!

Harry, Have you confirmed the titele? If not, it sounds like you and the "couple" who purchased their interest from the original owner via quit claim deed both own an undefined interest in the property. Neither of you can pass clear title without either buying out the other or via quieting the title and receiving a judgment  (default or otherwise) against the other party.