Investing in a business place??????????

9 Replies

Hi everyone I am in the process of getting the certificate for a business place. I did extensive recon on the location and it is in a very nice area. The business has not been in use for the past two years and there is a for sale sign in the window I call the number a few times no one answers. There is a lot of stuff left over from the store. What are my options for taking adverse possession? This is my first business tax sale property. Need all the help I can get.   

@Dexter Humphrey not sure what you mean by "getting a certificate" for the place. Are you talking about a tax lien certificate? 

Adverse possession is rarely practical. It could wind you up in jail. Any money you put into the property until adverse possession is awarded could be lost if the owner comes back.

@Denise Evans is the expert on AL tax liens.  But if I remember her posts, she says that you should take possession as soon as possible.  You are able to rent it out.   So take possession and change the locks but you dont have title.  You can't file for the quiet title until you get the tax deed which is 3 years from the tax sale.

@Dexter Humphrey , you are able to take possession as soon as you have your tax sale certificate.  You can rent it out and keep the rent even if the owner redeems.  If the tax sale is void, however, you can't keep the rent and will have to pay it over to the owner who redeems.  Void tax sales arise from the wrong name at the auction. Usually, the assessed owner died. Sometimes there's a foreclosure. Sometimes there's a sale and the new owner did not assess it in their own name. With commercial properties, you will not be paid for any repairs. If the property contains a residential structure, a redeeming owner must pay you for the value of all your repairs, but it sounds like your property does not fit into that niche.  If the property is inside an official urban renewal or urban redevelopment district, you will be paid for the value of all improvements you make, not just repairs, and the property can be any type of property. I don't think Dothan has any areas like that, though. Good luck!

The property is in Etowah county Alabama. It is in an upscale neighborhood. There are a lot of cleaning to do inside and outside. Can I go in and change the locks and clean up the property without a problem?

Where in Etowah Co? I grew up there, just curious. Regarding your question, I highly recommend you talk to an attorney.

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