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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » what happens to tax default prop in a court appt receivership?

what happens to tax default prop in a court appt receivership?

I want to buy a tax deed prop in san bernardino co CA, but I found out the prop is held by a court appt reciever (attny)because the owner was arrested for land fraud in LA co.Neither the owner nor the receiver have paid the prop tax in many years. Is this prop a good ivestment?

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2 Responses to "what happens to tax default prop in a court appt receivership?"

  1. creativereading says:
    I think it would come down to your buyer/seller agreement. I am not sure how works in California, but in the agreement, you can insist that all property taxes must be paid by the buyer by a particular date. If it isn’t, then the agreement becomes null and void and you are not obligated to buy it.
  2. MzHazelnut22 says:
    That is an interesting one. I worked for a mortgage company in the property tax dept. in Cali for several years. I know California is the most difficult state to purchase tax siezed properties because there are many rules and regulations. Firstly, the property must be defaulted for 5 years before you can even buy the deed. But given the owner is in jail, there may be some clause that allows it to be held for a given amount of time. This may be a very difficult investment that may cause more time and money than it is worth. If you are not experienced, you may want to look into another investment.

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