How soon can I sell property after getting thr tax deed?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How soon can I sell property after getting thr tax deed?
I have purchased properties for back taxes. How long do I have to wait to sell these properties? I am in possession of tax deed. Is more required?
Asked on October 30, 2018 under Real Estate Law, Mississippi
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Once the deed is in your name, you can sell the property. At least in theory. In reality, you should have it recorded in order to protect the property from any potential claims by the previous owner's creditors. Even then there could be claims that have already been filed against it. Also, while it is typically up to a prospective purchaser to run a title search, you may want to do so in this case just to make sure that the property is free from any encumberances before you attempt to sell.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Once you have and ensure that the deed is filed, you are the legal owner and may resell. To transfer clean title to someone else (e.g. a buyer), you'll have to make sure that all liens or encumbrances on title have been paid off or otherwise cleaned up, so you should do a title search to make sure there are no clouds on title, but you are allowed to sell once the deed is filed in your name.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.