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Updated almost 6 years ago,
Quiet Title Already Done?
Here's the backstory: I am interested in purchasing a property in AL. It was initially sold at tax sale in 2012. The property owner was a development corporation; the investor was a hedge fund. In 2015 the property owner filed chapter 7 bankruptcy. In 2016 the property was sold to the state when the hedge fund neglected the property taxes. I just spoke with the county probate office who told me that a quiet title was done that "cleared out" the original property owner.
My question: If a quiet title has already been done to remove the original property owner, would it be necessary to do another quiet title? Or would the property be mine, free & clear, at the time the deed was handed over? Would there be any chance of redemption from the original property owner or just the previous investor (hedge fund)?
Also, would the quiet title have been done as part of the bankruptcy or would the hedge fund have done that? If it was the hedge fund, why would they take the time/effort to do the quiet title, then neglect the taxes?