Absttracting a title

ariesnleo · May 19, 2005

What is the name of your state?What is the name of your state?

Florida

My questions are:

1. Would the existence of a real estate tax lien on property make the sale of the property impossible, why or why not?

2. Would a title company issue a policy for this property? If yes, how?

HomeGuru · May 19, 2005

ariesnleo said:
What is the name of your state?What is the name of your state?

Florida

My questions are:

1. Would the existence of a real estate tax lien on property make the sale of the property impossible, why or why not?

**A: if there is enough equity in the property to pay the lien off to give clear title, then there is no problem.
*********

2. Would a title company issue a policy for this property? If yes, how?

**A: the policy can be issued subject to the lien.

nextwife · May 19, 2005

Seldom will a buyer or their lender be willing to accept a property with a prior lien such as unpaid taxes. Usually, the title commitment is issued showing the lien, and, just as with a mortgage, the lien is paid off at closing, which effectively removes it.

seniorjudge · May 19, 2005

Q. Would the existence of a real estate tax lien on property make the sale of the property impossible, why or why not?

A: No, not if the buyer wanted to pay for it if the seller couldn't pay for it.

Q. Would a title company issue a policy for this property?

A: Yes.

Q: If yes, how?

A: By stating on the policy that it would not cover any loss or damage caused by that lien.

Absttracting a title

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