Florida Tax Lien Information

In many states in the US tax liens run with the land, meaning the property owner is responsible to clear tax liens (property tax debts), regardless whether they were acquired by the previous owner. Depending on the jurisdiction law of each state, this means that you might be responsible to pay those taxes. To find out whether you are responsible on Florida tax lien you need to speak to your county court of law as every state law varies.

Usually twice per year in May and June you can also buy tax lien certificates for a favorable 18 percent which is one of the best in the country. This includes a two year redemption period and could save you tons of money in the process. These tax lien certificate auctions are won by competitive bids. If you are lucky enough to live in a Florida county with low bids you can grab a bargain.

Tax lien payments usually occur through the following several methods:

• If the previous owner sells a property prior to tax foreclosure by the government, the tax lien is paid with the help of closing costs, usually from funds of the sales. Florida tax liens are discovered by doing a title search on the property.
• If you fail to pay your personal property Florida tax lien after being notified on several occasions you could lose your home due to a foreclosure process in Florida. With real property your home might be seized and sold in a tax deed sale.
• Property owners can also pay their tax lien with an Escrow payment. If they can’t, then the mortgage holder can pay the outstanding amount. Often mortgage lenders will pay on the holders account and then forward the cost to the borrower or owner.

Florida tax liens offer buyers some interesting opportunities to acquire property on the cheap. The secret lies in being informed about your county’s property laws to make the most of the tax lien law in Florida. If you happen to live in another state altogether you can get help with taxes available from various sources.