Another Abandoned Property Question

[gurion]

I'm in California, and I'm aware of resources which show me tax laws and properties with unpaid taxes. Are there procedures which allow me to aquire one of these properties, before it goes to auction?

I'm hearing stories about owning the land for the cost of back taxes. Thanks for any clarification.

[Notorial dissent]

You would have to buy the property at tax sale/auction, and then have bought it for 3-5 years, and then the original owner still has the right to redeem it if they so choose. Chances are if it is a piece of property that the owner hasn't redeemed, there is probably some really good reason they didn't. This can literally be buying a pig in a poke, and it is a long term process.

[Livefire]

Notorial,

You're wrong about California....the right of redemeption end the day of the tax sale. What you say in most other states would, nonetheless, be correct. Right of redemption varies greatly by state (MI for example is 18 months) Here is a link to the LA county Treasury and Tax Collector Auction FAQ where I found this info.

http://ttc.lacounty.gov/Proptax/auction_faq.htm

Assuming the FAQ is correct, one could be the winning bidder and as soon as the tax deed is received, file a quiet title action in court to perfect the title.

[Notorial dissent]

You have to be the winning bidder for at least three years running before you can request a Treasurer's Deed. I think they are leaving out some information on that site, and I can't find my real estate reference right now.

[jdogpupil]

Originally Posted by gurion

I'm hearing stories about owning the land for the cost of back taxes...

Hm. Not quite. If you're interested in acquiring a "tax-defaulted" parcel before it goes to the sale, send me a PM. I'm the person to ask.