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Author Topic: Struck Off Property for Sale by Tax Office  (Read 10474 times)

Offline tedjr

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Struck Off Property for Sale by Tax Office
« on: January 08, 2004, 05:48:35 pm »
I have heard and read conflicting opinions about tax sales where the property receives no bids at the day of sale here in Texas and is "struck off". The statute i read says that the right of redemption is still in place and one web site I visited says that the right of redemption is no longer in effect. What are the rules and laws and when does the clock start ticking if there is a right of redemption.

Thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737
512-301-9171 home
512-587-6177 mobile
[email protected]
Ted P. Stokely Jr

San Antonio, Texas

Offline rogerenriquez

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Re:Struck Off Property for Sale by Tax Office
« Reply #1 on: January 09, 2004, 10:28:41 pm »
Ted,

I believe the short answer to your question is: it depends.  Assuming that we are dealing with non-homestead, non agricultural property, the redemption period is six months.  In some counties, tax-sale property that recieves "no-bid" is struck-off and a deed is recorded in the county's favor.  In practical terms, what this means is that the recording of the deed starts the redemption clock against the owner.  Perhaps a hypothetical will help illustrate this point.  Ted is delinquent on his property tax (non-homestead, non agricultural property) and his property is legally placed for sale on Jan. 6, 2004.  There are no bids on the property.  On January 9, 2004, a tax-sale deed is recorded on behalf of Bexar county.  On August 9, 2004, Roger purchases the property at a Commissioner's Resale.  On August 10, 2004 a deed is recorded on Roger's behalf.  Ted's right to redeem has lapsed and Roger takes free from redemption worries.

Hope this helps.

Regards,
RE

Offline tedjr

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Re:Struck Off Property for Sale by Tax Office
« Reply #2 on: January 10, 2004, 06:38:58 am »
EN

Thanks for your help on this. That was a very good illustration. It was a bit confusing especially the web site that I visited. They are wrong on the price on one property too. I am high bidder at 4300 and the mininum bid at the county is 43000. Hope I win. Can not wait to see if they ask for the funds + the 5% fee. Thanks for your help.

Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737
512-301-9171 hom
« Last Edit: January 10, 2004, 06:40:22 am by tedjr »
Ted P. Stokely Jr

San Antonio, Texas

Offline DariusBarazandeh

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Re:Struck Off Property for Sale by Tax Office
« Reply #3 on: March 24, 2004, 01:12:42 am »
Roger got it right!

Good job and great explanation!
Warmest Regards,
Darius M. Barazandeh, JD/MBA
www.theinformedinvestor.com

 




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