Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Tax Liens & Mortgage Notes
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

14
Posts
3
Votes
Marc Bazemore
  • Lithonia, GA
3
Votes |
14
Posts

Tax lien and a desolved bank

Marc Bazemore
  • Lithonia, GA
Posted

I have a question ,I have a former home owner who was F/C on 8+ years ago, BUT the bank that

F/C has since closed and bank that took over on file says it doesn't own the property, NOW  the

owner who was F/C on is being harassed by code enforcement to maintain the yard ,the lien

is 9k ,the property needs a full rehab, but that's what I do also its next door to a property I already

own ..

 so my question is can I quit claim it over to my company and then buy the lien ,or should I just buy the lien and wait the year knowing no entity is going to redeem ?   

Most Popular Reply

User Stats

6,408
Posts
2,655
Votes
Brent Coombs
  • Investor
  • Cleveland, OH
2,655
Votes |
6,408
Posts
Brent Coombs
  • Investor
  • Cleveland, OH
Replied

I believe that a Quitclaim Deed signed over to you by the "owner" will give you no more ACTUAL ownership rights than just buying the Lien and waiting the year. Anyone, am I wrong?...

Loading replies...