Mississippi Petition to Void Tax Sale of Certain Properties
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How to fill out Mississippi Petition To Void Tax Sale Of Certain Properties?
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FAQ
In Mississippi, a tax sale will eventually take place if you don't pay the property taxes on your home. At the sale, the winning bidder buys the tax debt and gets a lien on the property. The purchaser receives a receipt along with the right to eventually get ownership of your property if you don't pay off the debt.
The answer is simple no. In Mississippi, paying the property taxes on someone else's land does not affect ownership in any manner. You simply cannot obtain title to someone's land by paying their taxes for them.
In cases where the mortgage lender recorded its lien (the mortgage) before the IRS records a Notice of Federal Tax Lien, the mortgage has priority. This means that if the lender forecloses, the federal tax lien on the homebut not the debt itselfwill be wiped out in the foreclosure.
When you buy a tax lien certificate, you're buying the right to receive a debt payment, not the deed to the house. The homeowner is still the legal owner of the home. If he does not pay the tax debt, then you can foreclose. But you cannot buy a tax lien, turn around and foreclose on the property the next day.
Federal tax liens do not take precedence over purchase money mortgages or mortgage loans. The IRS considers a purchase money security interest or mortgage to be valid under local laws, so it is protected even though it may arise after a notice of Federal tax lien has been filed.
After a tax sale happens, the homeowner might be able to redeem the property. "Redemption" is the right of the property owner to reclaim the property by paying the entire sale price, plus certain additional costs and interest, after the sale so long as it is within the time period allowed by statute.
The property at a tax deed sale is usually sold for the amount due in unpaid taxes, plus fees and interest charges.Before being transferred to the winning bidder, the property should be cleared of all mortgages and liens against it.
Mortgage Lien Survival In California, most tax foreclosure-selling counties issue tax deeds free of all title encumbrances except for other tax liens.Suddenly discovered mortgage liens on your newly bought tax-foreclosed property should be removed by the county in which you bought it.