We have bought some land at the tax sale that has approximately 10 days left until the 6 month remption period is up. We just recently were contacted by someone who said they wanted to buy it back. Apparantly, they are a company that owned the property before the prior deed holding, which was an LLC. This company claims that they owned the old LLC and have assignment documents to prove it. I was advised by an attorney that we should only be talking to the prior deed holder of record only. Maybe what they say is true, but we have only received phone call, not letters. If this is the case, don’t you think we should get something in writting by registered mail? I have not found anything in Texas that states what the protocol is when it comes to redeming property. Should it be in writting?..is a phone call sufficient? We specifically asked when they called are you with XYZ Company, and they replied no. The next phone call they said, yes we are the old company because they were assigned the company and can show us the paper work.
Personally I would Ignore the calls at least for the next 2 weeks. When you buy property at a tax sale that is an agreement between you and the county/State that you bought it from. In order for them to redeem they will need to pay you back with Interest thru the local County where you purcahsed the lien. If they cant do that within the next 10 days you would own the land. I would personally ignore the calls and let them deal with the county… Or have them call me I will tell them where to stick it!! LOL
Have they filed a notice of intent to redeem on the property? They have to record that 15 days prior to the end of the redemption period…
This is the law.
http://www.window.state.tx.us/taxinfo/proptax/tc06/ch34b.htm#34.21
IT has to be in writting.
(i) The owner of property who is entitled to redeem the property under this section may request that the purchaser of the property, or the taxing unit to which the property was bid off, provide that owner a written itemization of all amounts spent by the purchaser or taxing unit in costs on the property. The owner must make the request in writing and send the request to the purchaser at the address shown for the purchaser in the purchaser’s deed for the property, or to the business address of the collector for the taxing unit, as applicable. The purchaser or the collector shall itemize all amounts spent on the property in costs and deliver the itemization in writing to the owner not later than the 10th day after the date the written request is received. Delivery of the itemization to the owner may be made by depositing the document in the United States mail, postage prepaid, addressed to the owner at the address provided in the owner’s written request. Only those amounts included in the itemization provided to the owner may be allowed as costs for purposes of redemption.
GBolivialisa,
Thanks for the info.