No Right of Possession
The sale and purchase of the tax or special assessment lien at a tax sale does not, as it might under simple sales and purchase agreements, convey the right of possession, use, improvement or access to said property. The buyer is issued a Tax Lien Sale Certificate of Purchase, which is a properly recorded lien.
In the event the lien remains unredeemed, the certificate holder has the right of paying subsequent years' delinquent taxes (sub-taxing). Sub-taxing normally occurs after the first day of August each year, as redemption interest accrues only as of that date. Three years from the date of the certificate, if the lien remains unredeemed, the certificate holder may apply for a Treasurer's Deed to the property. To be eligible for a Treasurer's Deed, the certificate holder must make application to the Treasurer. The procedural process normally takes 5 to 7 months to accomplish. Extenuation of the time period may occur when there are complex problems related to the property. Deed applications may be made by the certificate holder 3 calendar months prior to the third anniversary date of the certificate, but the endorsement of the current year's taxes and/or special assessments will not accrue interest until the first day of August. When application is made, monies must be deposited to pay all related deed expenses. Prior to deed application all subsequent taxes, special assessment liens and current taxes must be paid and endorsed on the certificate.
If the lien is redeemed, the certificate holder is entitled to interest on the taxes, penalty interest, advertising, and legal charges, which were paid and subsequently endorsed. Liens may be redeemed at anytime prior to the issuance of a Treasurer's Deed.
Premium (or Bonus) Bids
Bonus bids (premiums) are not returned.
Wrongfully Sold Lien
If a lien is wrongfully sold the County must pay the certificate holder the accrued interest. The rate will be 8% per annum for the delinquent tax liens sold this year.
For additional information regarding tax lien sales call 720.523.6772.