HELP

Foreclosures, Short Sales, Tax Foreclosures
1

recently purchased a home in Jefferson County, Ohio at a delinquent Land Tax Sale. When I purchased the property I had thought it was free from all liens. However, we were told that the property comes with all the liens from the lienholder. The ohio revised code is 5721.18.1 when I read it I get the understanding that it is free of all liens. Do you have any suggestions. My fear is that the bank that has the lien on the property is going to foreclose, after I have already bidded and have paid the property taxes. I also hold a Sheriff’s Deed on Foreclosure, on Delinquent Land Tax with revised code Sec. 5721.15 & 2329.36. The amount of the bank lien is a little over 70,000 dollars.

More clarification:
Every once in a while Ohio has a Auditor/Treasure Sales. I have bought property before in other county with no leins. This County is the only county we no of in Ohio that the leins come with the property. They sale the property for back property taxes. The former owner told the bank/lienholder that he did not have the money to pay the taxes and the bank/lienholder still didn’t pay them.

My question is do you know if I need to prove that the bank/lienholder was notified of the sale or was the listing in the paper and to the former owner enough?

The lien is not in my name it is in former owner name and am I going to have to pay the former owner loan?

If I don’t pay do you think the bank/lienholder will still foreclose? If so how long will it take for them to foreclose?

  1. No I have the Deed.

  2. I spoke to a Re Attorney he is checking into it. However I just have not got any answers.

I paid 6,400 hundred worth 148,000 thousand. I will still make a profit if I sell it

However, I was under the impression it come free of all liens.

The first list they had the Ohio Revised code that Says " After the filing of any right, title, otr interes in, or lien upon, any parcel shall be forever barred and foreclosed of any such right title, ot interest in, lien upon, and any equilty of redemption in such parcel." This code was also posted in the Newspaper.

However the second list says something completely different. It say this Ohio revised code 5721.191 (B) “Public notice is hereby given that each parcel to be sold at public auction will be sold subject to all liens, and encumbrances with respect to taxes, assessment, charges, penalties, and interest for which the lien was foreclosed and in satisfaction of which the property is sold.”

It sounds to like these say two different things.

2

Hi there denimville,
Welcome to Real Estate Investing, where often things are not what they seem to be on the surface. A few questions.

You say you were told the property comes with all liens. When and how were you told that? Was it verbal and from what source? What documents did you get after the auction?

You say you have a deed. Is it a Sheriff’s deed? Read it carefully. It should state from who and how the property is being transferred.

If it is not a deed, it may be a Tax Certificate. A Tax Certificate is sold by counties to recover some amount of money owned to the county by the owner of the property for a specific yearly period. It does not come with a “clear title”. After you buy and pay the county, then when or if the property transfers to a new owner, the new owner must pay you the amount of the tax certificate and any interest that is authorized by the county.

I looked at the Jefferson County Auditor’s and Treasurer’s web sites, but could not determine exactly what they were selling. Keep us posted on what you learn from the tax attorney.

Hope this helps. Hang in there.
Longshot