Mohave Arizona Tax Lien Sale
March 23, 2009
THE TAX LIEN SALE The Mohave County Treasurer holds a tax lien sale between February 1 and March 1 each year. The lien is for TAXES only. You must check for other types of liens, and research the parcel. The Treasurers Office does not have records of other liens or problems that may occur with the title of the property. These items may be filed elsewhere. BE SURE TO CONDUCT YOUR RESEARCH PRIOR TO BIDDING! CAVEAT EMPTOR (Let the buyer beware). The Tax Lien Sale establishes a lien against property for unpaid taxes, and is not an outright sale of the property. If an individual chooses to bid on a tax lien against a parcel, and is the successful bidder at the time of the Tax Lien Sale, a lien is issued against the property. The holder of such a lien has no legal rights to the property. And cannot put improvements on said property (A.R.S. 42-18201). If one chooses to pay the taxes on a parcel of land, thus becoming a lien holder, one must bid at the Tax Lien Sale. The amount of interest a bidder may earn on the money invested may vary from 0% to 16%. The bid applies only to the taxes which are delinquent and subject to being advertised for offering at the Tax Lien Sale. The interest percent bid will apply to the subsequent taxes. At any time prior to issuance of a deed to the lien holder, the owner(s) of the property may clear the lien by redeeming through the Treasurers Office. When a parcel is redeemed, interest is paid monthly through the month in which the money is received from the party redeeming the lien. Records show that between 95% to 98% of tax lien are redeemed by the owner. HOWEVER, THERE IS NO GUARANTEE THAT THE LIEN WILL BE REDEEMED. BANKRUPTCIES filed against a parcel will freeze all activity on the parcel(s) involved. ALL funds invested CANNOT be refunded until the bankruptcy is released. PAYMENT OF INTEREST ON TAX LIENS WILL BE DETERMINED BY FEDERAL BANKRUPTCY COURT. A Tax Lien and holding a Certificate of Purchase does NOT give you ownership rights to the property. A CP simply represents your TAX LIEN. The only methods to obtain legal ownership are through the foreclosure and deeding actions described above. PLEASE REFER ALL INQUIRIES TO THE MOHAVE COUNTY TREASURERS OFFICE, TAX LIEN DIVISION A The property which is not bid on at the sale is assigned to the State of Arizona at 16% interest. If you wish to purchase one of these liens from the State of Arizona, you may do so with an ASSIGNMENT REQUEST FORM. Contact the Treasurers Office if you need further information. We will send Receipts, Portfolio and bill for any additional taxes due when your payments are processed. BIDDERS MAY NOT SWITCH PARCELS! When the process for the Certificate of Purchase is completed, ownership may ONLY be changed to another party by REASSIGNMENT THROUGH THE TREASURERS OFFICE. SUBSEQUENT BILLING: The purchaser will be billed for subsequent taxes annually, at the address currently on record. To avoid additional interest, the payment must be received in our office no later than the due date given at the time of billing. To prevent erroneous posting of your payment, please mark your envelope: ATTENTION SUBSEQUENT TAXES. ACQUIRING DEED JUDICIAL FORECLOSURE (Quiet Title) Action Through which legal ownership of the parcel may be obtained. This is usually handled by an attorney, and must follow the statutory requirements outlined in A.R.S. 42-18202 (which requires letters of intent), 42-18204, 33-414, etal. The judgment must be recorded in Mohave County, and a CERTIFIED copy of the judgment, summons, complaint, with applicable fees must be forwarded to the Mohave County Treasurer for issuance of a Treasurers Deed. This is the only means to obtain title (deed) to the property for sales held after December 31, 1998.
Comments
Got something to say?
You must be logged in to post a comment.