All Forum Posts by: Vatsal Shah

GOt it. Thank you folks for your response. 

Thanks Henry.

The state of NJ and United States are included as a defendant in the foreclosure notice because of inheritance tax. The property owner is deceased  

Hi All,

I am from NJ and looking a to buy a property in Sheriff sale. The mortgage being foreclosed is a senior loan. There are no other subordinate/junior liens. However, the property does have Property tax lien and HOA lien. I am aware that if the property gets sold at higher amount than the upset price, the surplus amount is used to pay off any junior liens and the left over goes to the owner.

Will the surplus amount be used to pay off property tax liens and HOA liens?

Thank you all in advance for your help. 

Seeking help from all the real estate gurus out there. 

I am looking to buy a foreclosure property in Sheriff sale and the original owner is deceased. Based on the court foreclosure documents, there are automatic silent liens of estate/inheritance tax from the NJ as well US. Based on my talk with a title agent, they said that as long as the NJ and US were served and included as defendants in the foreclosure proceedings, those inheritance/estate liens would be wiped out by the foreclosure process. Is that correct?

Thank you in advance for all your feedback.