I would like to anyone that is investing in tax liens in Arkansas and find out so information about them.
I could write a book on tax delinquent properties in Arkansas but I'm traveling right now.
The very first thing you need to do is go to the COSL website (www.cosl.org) and read it top to bottom. When I get back home I will post more information here.
Disclaimer: As I am new to this site, I don't know if Bigger Pockets has a general disclaimer concerning giving advice but let me just say this...anytime you are dealing in matters of title to real property you should consult an attorney. I am not attorney so please do not take my advice and use it for making decisions concerning your purchases or investments.
When you purchase a tax delinquent property from the COSL you do not get clear title. It states that on their website. What you get from the commissioner is a Limited Warranty Deed conveying the states interest only in that property to you. As far as I know, neither the auction action nor the deed extinguishes any other liens or encumbrances on that property.
If you choose to seek unclouded title in a timely manner you will have file a Quiet Title action. Otherwise you will be holding that property for some number of years before you are able to sell the property with title insurance.
Thanks for the information, Dale. I'm looking into tax delinquent properties in Arkansas as well. Have you actually purchased properties in AR? Have you been through a Quiet Title action?
Hi Chip and Jacob,
I frequently handle quiet title actions on tax deed properties in Arkansas. Do you have any specific questions that I might be able to answer for you?