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The Water Cooler
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Property Tax Sale - Any Lawyers Out There?
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<blockquote data-quote="Ethan N" data-source="post: 3240114" data-attributes="member: 29267"><p>Thanks for all the responses!</p><p></p><p></p><p>I’m sure the sheriff is knowledgeable and deals with this kind of thing all the time, but I’ve been burned by the advice of law enforcement before to the tune of thousands of dollars in legal fees and more. I will ask the sheriff’s department, but won’t trust their advice alone.</p><p></p><p>It used to work that way, but the law was changed about 10 years ago so it’s a tax deed sale in Oklahoma now. There’s only a redemption period, as it’s called, for property owners with certain legal or medical disabilities. The treasurer’s office of the county this property is in said they’ll print a copy of the deed for me on the day of the auction.</p><p></p><p>I asked the county treasurer (who holds the auction) about it, but they weren’t very helpful on these particular questions, which is why I’m here now. I’ve read Title 68 Article 31, but it doesn’t cover any of this. I do plan on a quiet title or title quieting service, but not a priority for now since I don’t plan on marketing the title anytime soon. This’ll be a rental after we build the house we actually want somewhere else.</p><p></p><p>How have you gotten keys or otherwise gained access to the properties you’ve bought?</p><p></p><p>I agree. The statute of limitations for any interested party to challenge the tax deed is one year, so it will be only urgent repairs and basic sprucing the place up until the first year is up. But this property has no liens that I’ve found (other than for the city cleaning up a couple times a year, which is included in the auction), hasn’t had a mortgage in 15 years, the last sale was cash, and the current owner has expressed his disinterest in redeeming the property. It’s about as good as it gets in terms of the prospect of quiet title.</p><p></p><p>That’s also one of the reasons I have my eye on this property even though it’s going to be a lot of work – I don’t like the idea of evicting a little old lady or a family fallen on hard times. It has to be done sometimes, but I don’t personally want to be the one doing it.</p><p></p><p>Definitely want insurance, but won’t be able to get it without quieting the title.</p></blockquote><p></p>
[QUOTE="Ethan N, post: 3240114, member: 29267"] Thanks for all the responses! I’m sure the sheriff is knowledgeable and deals with this kind of thing all the time, but I’ve been burned by the advice of law enforcement before to the tune of thousands of dollars in legal fees and more. I will ask the sheriff’s department, but won’t trust their advice alone. It used to work that way, but the law was changed about 10 years ago so it’s a tax deed sale in Oklahoma now. There’s only a redemption period, as it’s called, for property owners with certain legal or medical disabilities. The treasurer’s office of the county this property is in said they’ll print a copy of the deed for me on the day of the auction. I asked the county treasurer (who holds the auction) about it, but they weren’t very helpful on these particular questions, which is why I’m here now. I’ve read Title 68 Article 31, but it doesn’t cover any of this. I do plan on a quiet title or title quieting service, but not a priority for now since I don’t plan on marketing the title anytime soon. This’ll be a rental after we build the house we actually want somewhere else. How have you gotten keys or otherwise gained access to the properties you’ve bought? I agree. The statute of limitations for any interested party to challenge the tax deed is one year, so it will be only urgent repairs and basic sprucing the place up until the first year is up. But this property has no liens that I’ve found (other than for the city cleaning up a couple times a year, which is included in the auction), hasn’t had a mortgage in 15 years, the last sale was cash, and the current owner has expressed his disinterest in redeeming the property. It’s about as good as it gets in terms of the prospect of quiet title. That’s also one of the reasons I have my eye on this property even though it’s going to be a lot of work – I don’t like the idea of evicting a little old lady or a family fallen on hard times. It has to be done sometimes, but I don’t personally want to be the one doing it. Definitely want insurance, but won’t be able to get it without quieting the title. [/QUOTE]
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