Real estate tax payments during redemption period

Real estate tax payments during redemption period

Rhinelander, WI · Member since 2017 · 2 posts · 0 votes

Who is responsible for real estate taxes between the time of the sheriff's sale and the end of the 6 month redemption period?

0Reply
31 views

1 Reply

Jump to latestLatest
  • Rental Property Investor · Charlottesville, VA · Member since 2012 · 1k+ posts · 726 votes
    9y

    @Sharon Rayko My first response is you need to consult a local RE attorney. But here's some general information.

    Is this tax sale or foreclosure? I'm going to assume a foreclosure.

    In Georgia we have a 1 year redemption period for tax sales. What this does is give a murky ownership interest to two different parties. Either of them could pay the taxes but neither necessarily has to.

    If the taxes are unpaid again the county might then sell another interest in the property. But probably not within 6 months, here it takes a couple years.

    I always pay the current taxes if I have bought a tax deed and I would recommend you do likewise if you have bought it at foreclosure. If the previous owner does want to redeem they likely (ask the attorney) would owe you for the current year taxes as well as what you paid at the sheriff sale plus a penalty. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.