QUESTION
Since the bank does not want the property, if I pay off the back taxes, can I somehow keep title to the property?
Asked on Oct 19th, 2016 on Bankruptcy - Nevada
More details to this question:
Back in 2010, I filed for bankruptcy (chapter 13) and agreed to surrender my property. It was discharged in 2013. To date, bank still hasn't foreclosed on property. Now, I'm interested in keeping the property. House is eligible for tax lien sale. Does county have the authority and ability to keep title in my name?
3 ANSWERS
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I don't think you can be sure the bank does want the property back. They could acquire it at the tax sale. But in all likelihood, so could you.
Answered on Nov 14th, 2016 at 4:13 PM
Sure would have helped if you had indicated WHAT KIND of property this is. Is it real estate, a mobile home, or some other property you are required to pay taxes on? I do not have a crystal ball, and different kinds of property will be treated differently. It sounds like you believe have found a great loophole, but you buying the tax lien will not wipe out the lien a mortgage company holds. Maybe a personal property lien would be different, but not real estate.
Answered on Nov 14th, 2016 at 4:12 PM
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It sounds like the situation is that you own the property and there are 2 liens on the property: 1) the mortgage; and 2) the county taxes. If you want clean title to the property, you need to clear both liens. This means that you need to get the bank to release its lien if it really does not want the property and then you need to pay off the property taxes. If you do nothing, at some point either the bank or county will foreclose the property and then sell it.
Answered on Nov 14th, 2016 at 4:12 PM