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FAQs on Florida Tax Deed Sales

FAQs on Florida Tax Deed Sales

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Published by rafarec
Rafael Recalde, Esq. of Recalde Law Firm, P.A. addresses several issues related to Tax Deed Sales in the State of Florida. Recalde Law Firm, P.A. provides legal services to buyers at foreclosure auctions and at tax deed sales, particularly with registration and procedural aspects, as well as with potential impacts that existing liens may have on the successful bidder's title.
Rafael Recalde, Esq. of Recalde Law Firm, P.A. addresses several issues related to Tax Deed Sales in the State of Florida. Recalde Law Firm, P.A. provides legal services to buyers at foreclosure auctions and at tax deed sales, particularly with registration and procedural aspects, as well as with potential impacts that existing liens may have on the successful bidder's title.

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Published by: rafarec on Aug 14, 2010
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THE ARTICLE BELOW IS FOR INFORMATIONAL PURPOSES ONLYAND NOT INTENDED TO BE USED OR RELIED UPON AS LEGALADVICE. THIS INFORMATION IS A SUMMARY ADDRESSINGSEVERAL FREQUENTLY ASKED QUESTIONS REGARDING TAXDEED SALES IN THE STATE OF FLORIDA. THESE QUESTIONS AREADDRESSED IN A GENERAL MANNER AND NOT INTENDED TOAPPLY TO ANY SPECIFIC CASE, AS CIRCUMSTANCES MAY, ANDUSUALLY DO, DIFFER SUBSTANTIALLY FROM CASE TO CASE.
RECALDE LAW FIRM, P.A.,
IS A MIAMI, FLORIDA BASED LAWFIRM ASSISTING CLIENTS THROUGH THE PROCESS OFPURCHASING PROPERTIES AT FORECLOSURE AUCTIONS ANDTAX DEED SALES. INVESTING IN FORECLOSURE PROPERTIESAND TAX DEEDS INVOLVES NUMEROUS RISKS, INCLUDINGPOTENTIALLY COSTLY CONSEQUENCES OF PURCHASINGPROPERTIES WITH HIDDEN LIENS.
CONTACT RECALDE LAW FIRM, P.A. AT 305-792-9100 TODAYFOR LEGAL GUIDANCE WITH YOUR TAX DEED OR FORECLOSURE PURCHASES.Frequently Asked Questions with Regards to Legal Implications of TaxDeed Auctions in the State of Florida1-What is a tax deed auction?
Beginning on or before June 1, the Tax Collector is required by law tohold a Tax Certificate Sale. The tax certificate represents a lien on unpaidreal estate properties. Interest accrues on the tax certificate from June 1 until
 
the taxes are paid. The amount of the certificate is the sum of the unpaid realestate tax and the non-ad valorem assessments, penalties, advertising costsand fees.Any time after two (2) years have elapsed since April 1 of the year of issuance of the tax certificate and before the expiration of seven (7) yearsfrom the date of issuance, the tax certificate holder is entitled to submit a taxdeed application.Pursuant to Florida law, the owner of the Tax Certificate may not seek to collect the tax until two years have expired from the purchase of the TaxCertificate. Following this time period, the owner of the Tax Certificate mayapply for a tax deed sale, where the tax deed will be sold to the highest bidder at a public auction. Unlike the tax certificate, which is an interest bearing investment that impacts the property as a lien, the tax deed gives anownership and possessory interest in the property to the holder upon theconclusion of the purchase.
2-What effect does a tax deed auction have on the owner of recordimmediately preceding the auction’s interest in the Subject Propertyfollowing a tax lien auction?
Generally, a tax lien auction will wipe out the owner of record of a property’s interest in the Subject Property, unless the owner of record is thehighest bidder and redeems the property. If the notice that was given to theowner record was improper, or if any other act or omission exists in the taxdeed auction, the “wiping out” of the interest may be challenged by theowner record prior to the auction in an action to Quiet Title.
3--What effect does a tax deed auction have on the primary mortgagelienholder’s interest in the Subject Property following a tax lien
 
auction?
In the event the lender does not redeem by paying the delinquent taxeson the property, a tax lien auction will wipe out the mortgage lien pursuantto Florida law, in the absence of any act or omission which may give themortgagee cause to successfully pursue a Quiet Title action. A lender whoseinterests are wiped out will likely, pursuant to Florida law, claim an interestin excess funds following the tax deed auction to the extent there is anexcess remaining following distribution to governmental and other priorityliens.
4--What effect will the tax deed auction have on judgment liensencumbering the Subject Property?
Generally, a tax lien auction will wipe out previous judgment liens on theSubject Property pursuant to Florida law, in the absence of any act or omission (such as inadequate notice) which may give the judgment holder cause to successfully pursue a Quiet Title action. However, a judgment lienholder may, pursuant to Florida law, claim an interest in excess fundsfollowing the tax deed auction to the extent there is an excess remainingfollowing distribution to governmental and other priority liens.
5--What effect will the tax deed auction have on governmental liens thatmay be encumbering the Subject Property?
Liens of record held by municipal or county governmental unit, specialdistrict, or community development district, survive the issuance of a taxdeed, when such liens are not satisfied as of the disbursement of proceeds of the sale.
See Section 197.552, Florida Statutes
.According to Florida statutes, no other liens survive the issuance of the

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