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Real Estate Sheriff Sale in Ohio. If the sale is initiated…

Customer Question
Real Estate Sheriff Sale in...
Real Estate Sheriff Sale in Ohio. If the sale is initiated due to back real estate taxes ( tax lien forclosing) does this clear an mortgages or other lein holders? My understanding is that real estate taxes take the 1st lien position in Ohio.
Submitted: 1 year ago.Category: Real Estate Law
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Customer reply replied 1 year ago
If I win the house at auction for back taxes can the mortgage company come back and redeem the home?
Answered in 17 minutes by:
7/20/2017
Real Estate Lawyer: KLAW, Arbitrator replied 1 year ago
KLAW
KLAW, Arbitrator
Category: Real Estate Law
Satisfied Customers: 2,604
Experience: I have over 20 years of experience in commercial real estate law, finance, consumer credit, landlord tenant, and business law.
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Yes they can. The mortgages attach t the property and the tax sale does not wipe them out. Mortgages don’t go away in a tax sale – they’re attached to the property. They would be junior to the tax lien so you’ll be in first position but the mortgages still have a right to the value of the property after the tax liens. Best to do your research before acquiring the property and definitely before recording the tax deed. I hope this clarifies.

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Customer reply replied 1 year ago
in this instance the Tax certificates are sold in bulk, they are the ones now foreclosing and selling the property at Auction. ( I did not buy the tax certificate). I am trying to understand ORC 5721.39(E)... it reads otherwise.
Real Estate Lawyer: KLAW, Arbitrator replied 1 year ago
You just have a superior lien.The tax certificate vests in you, the certificate holder the first lien previously held by the state and its taxing districts under Ohio Revised Code section 5721.10.31.Now you as the tax certificate holder has a lien superior to all other liens and encumbrances upon the parcel described in the tax certificate, “except liens for delinquent taxes . . . that attached to the certificate parcel prior to the attachment of the lien being conveyed by the sale of such tax certificate.So, once you as a private investor purchases a tax certificate from the county treasurer, the first lien of the state transfers to you private investor, granting it a lien superior to all other private party liens and encumbrances upon the parcel. So if it is foreclosed you get your money first. I hope this clarifies. Please don't forget to rate question with stars so that I will receive payment for assisting you with your question.
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Real Estate Lawyer: KLAW, Arbitrator replied 1 year ago
You only own the lien, and the rights to collect on the lien amount.
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