How Does a Tax Lien Foreclosure Work?
When a property owner falls behind on their taxes, the government can place a tax lien on the property. If the taxes are not paid, the government can foreclose on the property.
The process begins when the government files a notice of default with the county recorder. This lets everyone know that the owner has failed to pay their taxes and the government is planning to foreclose on the property.
Next, a public auction is held where interested buyers can bid on the property. The highest bidder wins the property and becomes responsible for paying off the back taxes.
If no one bids on the property, it goes to a foreclosure sale where the government sells it to cover the outstanding tax debt. The proceeds from the sale go to pay off any liens against the property and any remaining balance is returned to the owner.
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