- February 13, 2019
- Posted by: admin
- Categories: Client Question, Posts, Real Estate Post
Are liens such as mortgages written off when buying real estate or property at tax deed auctions?
I am looking at these properties at a tax deed auction tomorrow. From my understanding, once you buy a property by paying the tax deed, the other liens such as mortgages get written off, and the only potentially outstanding liens are government debt. Is this correct? If so, I am searching these LLCs to see if they have any municipal or state debt that would encumber the property.
Thanks in advance Melisa,
Each governmental entity has its own set of statutes and regulations relevant to tax deed auctions. We recommend researching those in addition to the terms and conditions reported in the auction that apply to the subject properties, or you may want to consult with an attorney.
If you wish to order the full property/owner lien report to show the liens recorded against the property and against the owner (if any), please visit our order page to view the service options available online and delivered within 1-2 hours. https://www.ustitlerecords.com/search-property-records/
Please keep in mind that, generally, unless you close the transaction with a title company or other authorized agent and purchase title insurance, the information cannot be guaranteed whether it comes from U.S. Title Records or via a Preliminary Title Report from a local title company.
Please let us know if you have additional questions.
Customer support team