Murray Hill, NJ · Member since 2008 · 204 posts · 15 votes
Hi. I own a tax lien in NJ. There is no mortgage against the property, and the property is owned by a land trust. Will this type of ownership (land trust) cause me any headaches when I try to foreclose?
Wholesaler · Salt Lake City, UT · Member since 2009 · 1k+ posts · 401 votes
12y
No it does not matter, a trust is not exempt from losing a property due to not paying property taxes. If that was true we would have every deadbeat putting their property in one.
Sparta, NJ · Member since 2013 · 18 posts · 5 votes
12y
You can certainly foreclose but you might have to wait a year after the foreclosure is complete to get a title agency to insure title if the trustee cannot be served personally.
Specialist · Boca Raton, FL · Member since 2011 · 113 posts · 39 votes
12y
It is not any different to foreclosure on the tax lien given the trust. Your service could be more difficult but your attorney will be able to help resolve any issues. I have personally used Michael Pellegrino and would recommend his office for your tax lien foreclosure.