tax sale land in county inventory

[bob clark]

[sisterpine]

Bob: are you saying you purchases property at a tax sale and then resold it? and that somehow you came across these by looking where? it would seem to me that tax sales are listed in the local paper and the folks at the tax place have prior knowledge of all property coming up for sale.
just my own thoughts of course. buying tax sale property can work out pretty good if you know what you are getting into etc.

Originally Posted by bob clark

in the 1990s I purchaced no less than 10 tax sale properties all being small acrage pieses. usualy 3 or 4 ac. I got them for about 50.00/ac. I sold them all to the ajoining landowners .usualy they were already farming them they only existed due to mistakes made by lawyers years past.

anyone can look into this in there county. but it takes alot of looking

[bob clark]

:1pig:

[palani]

Tax sales are the one single event that can disrupt the chain of title from the land patent.

State only has a supposed equity interest and all they give you is a quit claim deed.

Unless the land is located in section 16 of each township the state never ever even had title to the land. The only reason they got section 16 was for school funding.

Possession can be separated from ownership of property under common law. The owner is still the owner. The possessor can't sell something he doesn't own. He can only pass along his interest. You can only give a quit claim deed when you sell. Try to transfer it on a warranty deed and you will end up losing big time.

Sorry for the rant, but most folks just look at the price and think it is pretty cheap. Land issues can go back hundreds of years and never go away.

[Cyngbaeld]

Some friends of mine picked up some land cheap by finding parcels that were about to be sold for taxes. They contacted the owner and offered to buy the land for the taxes plus a little bit over and the owner was willing to do that. It took them a lot of work to find the land and do the deal but it was well worth it.

[Iddee]

In NC, a quit claim deed becomes a warranty deed in seven years.

[palani]

Iddee

In NC, a quit claim deed becomes a warranty deed in seven years.

I don't think that can be the case. For example, I could issue a quit claim deed on the Brooklyn bridge. All I am saying is I am giving you whatever interest I have in the bridge. Well, it just happens that I don't think I have any interest in it but I can still give you the paper (also known as fraud). The same is true with the state. They can only pass along the interest they have which in their opinion is an equity interest because of previous non payment of taxes.

A warranty deed says some entity is guaranteeing or warranting the interest that is being passed. Who is doing the warranting with a quit claim? I think what you might have heard is that after possession for 7 years you have squatters rights and cannot be thrown off. That doesn't mean you can issue a warranty deed when you do decide to move off.

Funny thing is the state can not tax land. They can tax the paper that covers the transfer of the land though.

I ran across this quote as a footnote in one of the statutes at large a few months ago and it kind of says it all - 3 Stat 164

In the case of a naked power not coupled with an interest, every pre-requisite to the exercise of that power, should precede it. In the case of lands sold for the non-payment of taxes, the marshal's deed is not prima facie evidence that the pre-requisites of the law has been complied with.

[Danaus29]

For squatters rights to work you have to maintain and pay taxes on a property for 7 years (Ohio state law) and not have the land ownership called into question in that time. You wouldn't be able to do that with say, the Brooklyn Bridge, because most people can't afford the taxes and a private individual could not maintain the property. I've got some vacant land I've had for over 7 years. I didn't get title insurance when I bought it so my atty cautioned me not to build on it for 7 years. It wasn't buildable at the time so it was no big deal. Now the property is buildable (central sewer system installed) so we're checking into that. Build on that one then sell both houses and move to our dream home.

[Michael W. Smith]

Go to your local tax claim bureau in your local courthouse, and ask for a list of property that either is coming up for sale, or already did and sold. What few people seem to understand is after they have a sale, if nobody buys it, it goes into the tax bureaus unclaimed property. You can make an offer on it and buy it.

So far I have bought 1 small piece of property and 3 parcels of just coal rights. I bought them for $1.00 each. Then had a recording fee of about $30.00. Have paid taxes for several years on them and just this year, out of the blue I was contacted by someone.

It seems that when this person had bought property, he was told he was getting the coal rights with it. Well, he didn't because I bought them in unclaimed property. I had the coal rights for 120 acres. He was interested in buying them and I gave him a price of $1000.00.

He didn't even counter offer, bought them from me immediately!! Yes, money can be made.

[frogmammy]

One thing to remember people, EACH state is different!

Mon