Tax Deed Question: When the HOA is the current owner.
A Tax Deed auction
The property (condo) has an HOA listed as the current owner after foreclosing on a loan it made to the buyer (perhaps this is represenitive of fees not paid). The property has over $35k in property taxes - I assume this means that the HOA is responsible for this property's taxes and they are the ones who have not made the payments. ( Or does the owner of a home in an HOA tract have to assign the deed to the association, [I have no HOA experience]?).
If we bid and win on this property, the situation becomes unclear... since the property sits in a housing tract from the association, it seems that we would be taking a property away from the same association we would need to work with after the sale. Does that sound correct?
What is likely to happen after we win the Deed bid? Thank you.