I bought a tax deed on some land for a friend in my name. (They were not available for the sale.)
Can I sell the deed to them during the redemption period?
Can I sell it to them for a profit?
Would the previous owner have to pay the amount that I originally paid or the amount that I sold it for - plus 25% interest penalty?
Or do I need to wait until the redemption period is over to change the ownership?
Any law or president that you have would be great.
Thank you for your help.
you are on the right track, but you need a little tweaking…Yes, you should be able to re-assign the redeembale deed to someone else…You can re-assign it to them but cannot change how much you paid for it…if your friend would like to pay you on the side for the help you gave him or her, that is something you guys will have to work out…In order to redeem the redeemable deed, the property owner would have to come up with the total amount that was originally due in unpaid taxes, plus they would have to pay you a 25% interest of the total amount you paid for the deed…If you want to sell the property to your friend after the sale, that is probably the easiest way to do it.