QUESTION

from looking at the title search for a short sale home I am looking to purchase it appears that a tax sale of the property has already occured.

Asked on Mar 13th, 2013 on Residential Real Estate - New Jersey
More details to this question:
who owns the home the mortgage bank or the bank who purchased the home in the Tax sale?
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
When a tax sale certificate is sold, the person who bought it doesn't own the home, they own a lien against the home.  the tax sale certificate holder would have to go through a foreclosure process to be able to own the home. You can pay for a title search or you can search the county records yourself, many counties have them on line. Or you can go to the tax collector's office of the town in which the property is located and see if a tax sale certificate is registered against the property.  You may have to pay off that lien before acquiring title to the property.  the mortgage company has first priority in getting paid, and depending on the deal that is struck, the mortgage company could be responsible for paying all liens against the property and turning over clear title.  
Answered on Mar 13th, 2013 at 10:34 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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