Tax Lien Certificate

[lordgoose]

What is the name of your state (only U.S. law)? AZ
I sold some commercial vacant land a few years ago and received a substantial sum down and carried the balance. I am in a first position lien. The buyer has not paid his county property taxes and an investor just purchased a tax lien certificate. In 2014 the investor can foreclose on the property. What happens to my first position lien? What should I do to protect myself?

 

[nextwife]

MOst first mtg lenders monitors the taxes so they DON"T get too delinquent, and pay them if need be, then foreclose, as there is normally language that makes failure to pay taxes a default. Or they can pay and capitalize the amount top the loan, if the loan language allows.