Tax Lien Certificates Guide

Foreclosures by the Florida counties usually end in a tax deed sale. The foreclosure process was initiated due to the property owner’s failure to pay the property taxes owed to the local county.

In Florida the counties give the property owner ample notice to pay, and when the owner fails to pay the taxes the county then issues a lien against the property for the taxes owed.

The lien is then auctioned to the highest bidder – usually online – at a tax lien sale. A tax lien is different from a tax deed as the lien only entitles the lien investor to the interest and penalties that accrued to the lien. A lien does not give a tax lien investor immediate title to the property.

However, if the lien is not redeemed by the property owner the lien investor will often apply for a deed to the property, but unfortunately has little guarantee of receiving it, as Florida law requires that after a two-year grace period given to the property owner to redeem the lien, the property must then go to a fair and equitable public auction at a tax deed sale. This often means substantial competition for the lien holder.

In most cases the property is sold to a third party and the lien holder/investor does not receive the deed, only the profits made on the lien. This is one advantage that the tax deed investor has over the tax lien investor.

Another advantage that the tax deed investor enjoys, and which is stated in Florida law, is the strong security of the tax deed. A tax deed is equal to a quick claim deed in that the county is stating that they no longer have any claim against the property. If no other person comes forward to make a claim to the property, then the tax deed entitles the new owner to a free and clear title to the property.

If the deed is later challenged by a claim against the new owner, and the issuance of the tax deed, the statues under Florida law definitely favors the new owner who acted in good faith. Substantial penalties and legal disadvantages are enacted against the claimant, or as is usually the case, the former owner.

By way of example, let’s take a disgruntled owner who lost their property due to their failure to pay the taxes, and then decides to sue the new owner to recover the deed. Florida law states that if they win the case and they recover the deed, which is rare, they must pay all the legal fees of the innocent tax deed investor, plus refund all the money the new owner paid at auction, any money the new owner spent on any improvements made to the property, plus substantial interest and penalties! Ouch!

In other words, Florida law takes a very dim view on the aggravation the former owner will bring to the new owner, who acted in good faith — as opposed to the former owner who acted in bad faith.

What the state of Florida is saying to those who challenge the legal issuance of a tax deed is – ‘we made it easy for you to pay your taxes in giving you a two-year grace period to do so, and after we were forced to sell the property to someone who is willing to pay the taxes, we are not now going to make it easy for you to challenge that decision’.

The security of the Florida tax deed provides an advantage to the investor interested in investing in Florida tax deeds, over other states with perhaps less secure laws. Invest in Florida Tax Deeds.

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Harry Connor Jr is a marketing guy in Print and TV Commercial Production in general business and real estate, who loves the internet. For more information on what Harry is up to go here http://www.biz-zoom.com/ and http://taxdeedtreasures.com/

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Hi Joanne and thank you for the articles. A few questions: 1-Should I buy Tax Deeds using an LLC? If so what documents should I bring and how should I prep?
Why should people go to florida ?
How bad does a Deed in Lieu of Foreclosure hurt your credit compaired to a regular foreclosure?

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foreclosures, tax deed, tax deeds, tax deed sales, florida tax deed sales, florida tax deed sale

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Harry Connor Jr is a marketing guy in Print and TV Commercial Production in general business and real estate, who loves the internet. For more information on what Harry is up to go here http://www.biz-zoom.com/ and http://taxdeedtreasures.com/

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