Subto Purchase w/ Existing Tax Lien

[Renee Jones]

I am planning to purchase a property subto the existing mortgage (50k left) and current tax lien (65k). The delinquent tax contract offered the seller can be paid of at 1k pr/mth for the next 5 years. If I close on the property subto, can I continue her delinquent tax contract of 1k pr/mth or would the taxes now transfer to my name? Can I get into my own delinquent tax contract with the same payment structure?

With a subto Purchase what are my options for the delinquent taxes? Other than paying the lump sum...

[Don Konipol]

Quote from @Renee Jones:

I am planning to purchase a property subto the existing mortgage (50k left) and current tax lien (65k). The delinquent tax contract offered the seller can be paid of at 1k pr/mth for the next 5 years. If I close on the property subto, can I continue her delinquent tax contract of 1k pr/mth or would the taxes now transfer to my name? Can I get into my own delinquent tax contract with the same payment structure?

With a subto Purchase what are my options for the delinquent taxes? Other than paying the lump sum...

Laws regarding real estate are state specific.  Sometimes even county specific.  As for property taxes they are not specific to an individual or entity; they are specific to a property. However, the agreement to accept monthly payments may be specific to the owner himself.  So, taxes DON’T “transfer to your name”.

My best advise is that this isn’t a do it yourself project. Hire competent, experienced legal counsel.