I plan to invest in properties that are delinquent in taxes. I hope to get properties before they go on tax deed sales. If I offer someone $1,000 for their property that owes $10,000 in taxes and has a mortgage, do I need to pay off the mortgage before getting the property in my name? Is the mortgage wipeout when I take ownership? Do I have to pay the mortgage after paying delinquent taxes and liens on property? Any help will be appreciated. P.S. I live in California
I am not a lawyer and this is not legal advice. Get your own legal advice.
My understanding is that you would need to pay off the mortgage if you buy before the tax deed sale.
The mortgage and all other liens except IRS liens are only wiped out at the tax sale.
my understanding of this is with Dave Nixon’s understanding.
But who knows about California. Y’all are a little special and complicated there