Wednesday, 12 May 2010 10:55
Two Types of Tax DeedsWritten by Eddie Stewart
When one is pursuing tax deed investing, many new investors are confused by the many names for the tax deeds that they receive after their purchase. In this blog post we will discuss two major types of deeds that investors may receive at tax deed auctions. Of course the deed you receive may be called something different than the names below, but the rules and qualities of the deed will fall under one of the following two types. The first tax deed we will discuss is a judicial deed. This is the ideal deed for any investor to have when purchasing a tax deed at tax deed sales. The judicial deed is a marketable deed, which means that the investor can get title insurance on the property. This is especially important when an investor wants to quickly sell the property. Many of your typical buyers aren't interested in a property that doesn't have title insurance. A judicial deed is often the result of an investor or county receiving the deed after a hearing where the court orders the county treasurer to deliver the deed to the investor. The second, and less desirable, type of deed an investor can receive when purchasing at a tax deed sale, is an administrative deed. When an investor receives an administrative deed, the investor has to file a quiet title action. The quiet title action is where the investor notifies all parties with financial interest in the property to respond or make appearance in order to try to claim their interest in the property. Quiet title action can be a simple process. When buying a tax deed from the county an investor can find out the type of deed one will receive from them. The main thing to concern oneself with is whether or not one can get title insurance on the deed or whether quiet title action in required. Keep in mind that it is possible to get title insurance on an administrative deed, but certain requirements are necessary like owning the property for a certain period of time. If it is necessary to file quiet title action, make sure to do it correctly with the help of an attorney. The county may also help. No Risk Investor is the ultimate resource and tool for tax lien, tax deed, and real estate investors all over the world. No Risk Investor takes incredible pride in its ability to help students take action, get into properties, and begin the journey to financial freedom. No Risk Investor provides county lists, property lists, online auction lists, comprehensive training and education, an auction calendar, and online auction center, an investor community and much more for its members.Last modified on Wednesday, 12 May 2010 11:04
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Published in Tax Deed Investing