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Updated almost 7 years ago on .

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1
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0
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Tom C.
  • cooper, TX
0
Votes |
1
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purchase tax lien contract

Tom C.
  • cooper, TX
Posted

Looking at purchase of an unoccupied distressed residence in Texas.  Price is somewhere in vicinity of land value (as listed in CAD records).  I did deed research and found that it has a affidavit of heirency (was inherited by child of deceased father) and a tax lien contract (county tax lien was sold to a tax lien loan company and the owner now has a payment contract with the loan company).

Would appreciate any insights from your experience of such deals.

My main question is, how might I go about having an LLC or trust purchase the the tax lien contract so that the property remains encumbered after the property is deeded to my land trust. I'm thinking that this is a useful asset protection measure to leave the property encumbered.

Is this reasonable tactic ?  Would the tax lien loan company sell it at current payoff value or would / could they charge a premium ?  The loan company's faq says that they don't charge extra for early payoff.