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Updated over 7 years ago on . Most recent reply

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Connor Heim
  • College Station, TX
73
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89
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Florida unredeemed tax certificate-- who wins?

Connor Heim
  • College Station, TX
Posted
I understand that in Florida after a tax certificate has matured by two years the holder can apply for a tax deed sale. Suppose there are three certificates, one from 2013, 2014, 2015. Let's say the holders of the certificates from 2013 and 2014 have not put in an application for a tax deed sale. However the certificate holder for 2015 has put in the application to force the sale of the tax deed. Now, let's say that nobody purchases the tax deed. Would the holder of the 2015 tax certificate (the person who forced the sale) automatically receive the property deed, thus wiping out the payments are due to the lien holders from 2013 and 2014? Would love to hear from those in the know. :)

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Not exactly.....when a certificate holder applies to send the property to a tax deed auction, the applicant has to pay off all the other outstanding tax certificates, along with the 18% interest on those certificates, in order to send the property to auction.  Then, if no one bids the this total of all certificates and clerk fees (which the applicant paid out of pocket), then yes, the applicant gets the property.  But think about that, no other bidder was willing to pay how much you already have into it, so is it a good deal?

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