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Updated about 7 years ago,
Tax Deeds, Death, and Tenants
So, I've narrowed down buying a tax deed to three properties. One is at the top of the list because it's right by a nice college in town (Birmingham, AL). However, when I drove by it tonight I saw that it wasn't vacant and, looking at tax records, the person whose name is on it is either dead or is the son of the guy and holds the same name.
This is my first go at purchasing a tax deed and some advice would be much appreciated. A couple question come immediately to mind. A) What if the owner lives in the house? B) If its a tenant, how do I go about having them pay me rent (do I assume their existing rental contract until it expires?). C) somewhat related, If I buy a tax deed property and put tenants in them, what happens to the tenants if the previous owner exercises their rights to redeem the property?
Reading a response @Denise Evans recently gave to a tax deed question concerning redemption rights and the 3yr period that may not be as set in stone as I thought, some info on all this sure would be helpful!