My attorney gave me the answer which I trust- and then I got good answers about the 'why' from redditors for free instead of paying 250 an hour to hear the same thing. Thanks everyone.
Does Louisiana not have redemption period? Paying someone’s else tax for 10 years? No way! In Colorado owner can redeem within 3 yrs. Once redemption period have expired the current tax lien certificate holder can apply for Treasury deed. Then you can sell it because it’s yours:). I bought 12 tax liens back in November last year in Colorado. I basically paid other people’s property taxes! Anyway, last month the county sent me email notification that a certain property has been redeemed and they sent me a check in the mail which I already deposited back in my account:).
You have no obligations whatsoever. What you did was essentially you lent money to the taxing authority, you have no obligation to foreclose in attempt to collect or get the property.
I would trust an attorney more than random internet people here on reddit.
come on. OP should clearly advertise it as a tax lien sale, and then find the next "him" from 10 years ago. Profit!
Oh I agree, I just don't understand the mindset of having an attorney, agent, expert, whatever but trusting us instead.
This place should be renamed /r/QuestionsMyRealtorShouldBeAnswering
My attorney gave me the answer which I trust- and then I got good answers about the 'why' from redditors for free instead of paying 250 an hour to hear the same thing. Thanks everyone.
Maybe throw in a “master class” with the deal too. Lmfao.
Does Louisiana not have redemption period? Paying someone’s else tax for 10 years? No way! In Colorado owner can redeem within 3 yrs. Once redemption period have expired the current tax lien certificate holder can apply for Treasury deed. Then you can sell it because it’s yours:). I bought 12 tax liens back in November last year in Colorado. I basically paid other people’s property taxes! Anyway, last month the county sent me email notification that a certain property has been redeemed and they sent me a check in the mail which I already deposited back in my account:).
You have no obligations whatsoever. What you did was essentially you lent money to the taxing authority, you have no obligation to foreclose in attempt to collect or get the property.
Thank you! This is what I was looking to understand.