Tax Lien Certificates and Future Taxes

[Greg Scharlemann]

I've recently been researching tax lien certificates in Florida and have a few questions regarding the post-purchase timeframe. What happens with the future taxes owed on the parcel for which I own a TLC? Do I need to pay those taxes in order to maintain the first position in a tax deed sale? or do I wait for future TLCs to be issued on the parcel and buy those?

Rephrased as an example: Suppose I own a TLC for the 2008 tax year. Florida requires 2 years before redemption. What happens if someone buys the TLC for 2009 on the parcel that I own the 2008 TLCs? Could I still initiate a foreclosure on the property after the 2 year waiting period?

Thanks in advance for any insight on this.