Updated about 13 years ago on .
MS Tax Lien Help
Hello! I'm a long time reader first-time poster. I've learned quite a lot from the experienced posters on this site.
Hopefully I can get some advice on a situation I'm facing.
I bought several tax liens in my home state of MS 2 years ago.
I'm very happy with the returns, but I have one left that did not redeem.
It was a homestead property when I purchased the lien, but now it has "estate" listed on the property, and the taxes are now about double what I paid for the lien.
So I'm assuming the owner passed away in the last 2 years.
August 30 was the final date for redemption, and I have filed to get a tax deed.
My state is known to be lenient in favor of the property owner, and tough on the invester, so I do not expect to acquire the property.
However, I have no experience in this aspect of the deal, therefore really don't know what to expect.
As it is a relatively small lien, I'd like to avoid the expense of a lawyer if possible, as I'm not sure that money can/would be recouped.
One avenue I have considered is to contact the owner when I have the deed, and offer a quit-claim settlement for my interest in the property.
I'm interested in your thoughts on this solution, and any other ways to bring this matter to a close.
The original lien was for $600. Interest accrued is around $225. Filing for deed cost $70.
The assessed value of the property is about $50,000.
Thanks in advance for all thoughts!