Are mortgages extinguished by tax deed sale in Arkansas?
Hi everyone! I'm looking for someone who has experience and/or knows the laws concerning tax deeds purchased via the delinquent property tax auctions in Arkansas. In particular I'm looking for clarity on this statement from the AR Commissioner of State Lands (the agency which conducts the sales):
The COSL attempts to provide notice to all interested parties that are identified and made known to him. If an interested party receives proper notice of a sale and fails to protect its interest by redemption of the taxes, that interest may be extinguished.
The conventional wisdom on the internet is that a mortgage is extinguished by the tax deed sale in AR, but the best I can find in the state documentation is the above saying that it may be extinguished.
Does anyone have experience purchasing tax deeds in AR with an outstanding mortgage that can confirm the mortgage was extinguished (or not)?
Thanks!