Jamil Damji
TAX SALE REAL ESTATE And BRIDGE TITLE
TAX SALE REAL ESTATE And BRIDGE TITLE
Are you considering purchasing tax sale properties? Here's what you need to understand about tax sale real estate and why you need to think twice before investing in them. When a property is purchased at tax sale, there is a redemption period wherein the owner of the property has 5 years, or more depending on the State, where he or she can come back and redeem the taxes on the property and get that property back. Because of that redemption period, you won't be able to get a clear title. A bridge title is what will serve as title until a new title is created after the the redemption period is over. So, until it is past the redemption period, the property purchased at tax sale will not be a safe investment.
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