Tax Deed on Hurricane Destroyed Condo

[Lynn Henley]

OK, here's the situation...

I have a chance to purchase the Tax Deed on a condo unit on the gulf coast of AL. The complex was destroyed by a hurricane in 2004, and torn down.

Looking at the information about the other units, the owners are still paying the annual taxes, even though there is nothing there. I have been in contact with one of the owners, and he tells me that the other owners would like to rebuild, but can't right now, because of the economy.

I have found the telephone number for the unit I can purchase. Should I even contact them to see what's going on?

If I purchase the deed, what do I have? Should I purchase the deed, take ownership of the unit, and wait and see what the other owners are wanting to do? Or, run away from this as fast as I can?

Thanks,

Lynn (FL)