Buying a note that has delinquent taxes

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Hello, I've been reading a lot about notes recently and I am trying to come up to speed on them. That being said, I am trying to understand the potential risks and downsides of this investment vehicle, and one potential scenario I am having trouble understanding is this: the borrower has a lot of delinquent taxes; say, for upwards of 25 percent of the value of his or her property. Once a tax lien is placed on the property, can the county/tax lien holder take the property out from underneath the note holder if the borrower continues to defer his taxes? In other words, is the note holder's collateral only available to him if the borrower has kept up on his taxes?

Thanks in advance for your help!