Indiana Tax Lien Certificates
I just bought 3 tax liens in Henry County Indiana. I think I know the next steps, but I want to make sure.
1. I need to do a title search after 30 days, I am not sure exactly what I need to search for so some guidance would be helpful. I tried calling a title company, but they didn't seem to have experience with tax liens and weren't sure what I needed.
2. Notify interested parties, I assume it will be clear who I have to notify once I have the correct title search. I am not sure exactly what to include in the notification, but I assume it is pretty clearly explained in the law, or the county can tell me.
3. Wait for redemption period to end. I think that it is likely that at least one or two of my liens will be redeemed within the one year time frame. I know there is someone living in one of the properties, one looks vacant, and I am unsure about the other.
4. Petition the court for the tax deed, from what I have read this is pretty straight forward if the notifications have been done properly, I would also have to notify again about the foreclosure I believe.
5. This is where I am confused, if i get the tax deed, what does that mean. I own the property? What do I do if there is someone living there? Is there any chance they will come back and take possession of the property? I know some states have a redemption period for the tax deed, but I don't think Indiana is one of them. Also, I have seen that the deed I will get is not good enough to sell the property or get title insurance. I would like to be able to either rent or sell it soon after the tax deed is granted to me, is that realistic? What would I have to do to get a "quiet title" or whatever it is that I would need to sell the property?
Thanks for all your help.