Phoenix, AZ · Member since 2012 · 24 posts · 10 votes
I've noticed a few on here are versed in AZ tax liens. I have a couple tax liens that can now be foreclosed on (5 years back taxes) and I'm wondering if anyone does the foreclosure process without the expense of an attorney.
Specialist · Phoenix, AZ · Member since 2011 · 698 posts · 629 votes
13y
Helene,
Been on the road and just getting caught up for the last week on BiggerPockets. I see Justin has a contact to provide you the advice you need.
I've been buying lines in AZ for the past 4 years. Just coming up on my first liens that I can foreclose on this February. I've bought tax liens and tax deeds in IL in the past and like all states, IL and AZ are different.
I noticed on the Coconino county website they have a Judicial Tax line Foreclosure Package. http://www.coconino.az.gov/uploadedFiles/Treasurer/Revised_Completed_2008_Foreclosure%20Packet.pdf
You could do this yourself, just as anyone can represent themselves in court if they want. But I always follow the adage, "A person who represents themselves in a legal matter, has a fool for a client."
In AZ you must send a Notice of Intent to File a Foreclosure 30 days before you file the actual Foreclosure action. This goes to the property owner(s), their heirs (if owner deceased), and all lienholders. This letter alone drives most people to pay the back taxes and interest. There is a some detective work to get current addresses and prove you made a reasonable attempt to locate all parties.
From there you proceed with the Judicial Foreclosure process. The Coconino package has a simplified checklist spelling out the process.
Good luck and let us know how the process goes. I'll be blogging on my Biggerpockets blog about the process as I go through it.
Investor · Las Vegas, NV · Member since 2010 · 16 posts · 3 votes
8y
Any word of advice on foreclosing on a Coconino County tax lien that's past its redemption period, ready to be foreclosed but owned in the name of an LLC? What's the difference between foreclosing on a tax lien for a property that's owned by an LLC as opposed to an individual? Are the there differences between properties that are owned by an individual and ones that are owned by multiple owners?
Any word of advice on foreclosing on a Coconino County tax lien that's past its redemption period, ready to be foreclosed but owned in the name of an LLC? What's the difference between foreclosing on a tax lien for a property that's owned by an LLC as opposed to an individual? Are the there differences between properties that are owned by an individual and ones that are owned by multiple owners?
In the State of Arizona, for a property owned by an LLC, you would have to serve or give notice to the Statutory Agent of the LLC on the Deed of the property.
From the Arizona Corporation Commission Website:
"A Statutory Agent is an individual or a business entity that a corporation or LLC appoints for the purpose of accepting service of process (lawsuit papers or legal documents) for the corporation or LLC. See A.R.S. §§ 10- 501, 10-504, 10-1507, 10-1510, 10- 3501, 10-3504, 29-604, 29-606. The agent is called a "statutory" agent because a statute requires that the corporation or LLC appoint someone for this purpose. See A.R.S. §§ 10-501, 10- 504, 10-1507, 10-1510, 10-3501, 10- 3504, 29-604, 29-606. If, for example, a lawsuit is filed against the corporation or LLC, the Statutory Agent will be the one who is served (receives the papers on behalf of the entity), and then the Statutory Agent should give the papers to the corporation or LLC. Note that the law requires that the corporation or LLC maintain a statutory agent with a valid address on the records of the Arizona Corporation Commission at all times, and the failure to do so will subject the corporation or LLC to being administratively dissolved. See A.R.S. §§ 10-1420, 10-11420, 29-786. Official notices from the Arizona Corporation Commission will be sent to the statutory agent's address."
"Note that the law requires that the corporation or LLC maintain a statutory agent with a valid address on the records of the Arizona Corporation Commission at all times, and the failure to do so will subject the corporation or LLC to being administratively dissolved."
& if the LLC has been dissolved? Then what I wonder?
We do a lot of them but we always use an attorney. We do some of the initial stuff (30 day notices and some other stuff) but leave the rest for the lawyers. It is just better, even the lawyers have had issues in the past.
Though we actually purchase liens on the secondary market here in Maricopa County rather than purchasing at auction and waiting.
I understand this is a quite older thread but I was looking for tax liens in Maricopa and was wondering how one might find the secondary market for them?
Real Estate Agent · Mesa, AZ · Member since 2020 · 6 posts · 3 votes
1y
@Raquel Baranow I like the idea of sending the letter first class before spending the money on certified mail especially if you are sending the letter to multiple addresses.
Do you by chance have a letter of intent of foreclosure template that you wouldn't mind sending me? I have written up my own making sure to include everything that is needed on the statutes but I know how strict legal documents are and worry that it's not 100% correct.