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When a property does not receive at least the minimum bid at a first tax sale, it may be struck off to the taxing entity that initiated the sale. A new deed is filed, reflecting the change in ownership to the purchasing taxing unit. Usually, the property is posted for resale at a later date.
The Struck Off List (Results of Auction) is a report containing all the postings “auctioned” or processed on the day of the foreclosure auction (the trustee's sale/auction). Some refer to this list as the “Auction Results List.”
STRUCK OFF. TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed. A case is said to be struck off, where the court has no jurisdiction, AUD can give no judgment, and order that the case be taken off the record, which is done by an entry to that effect.
ADJUDGED VALUE. (a) In a suit for foreclosure of a tax lien on property, the court shall determine the market value of the property on the date of trial. ... (2) the amount bid by that person is equal to or greater than the aggregate amount of the judgments against the property, including all costs of suit and sale.
ADJUDGED VALUE. (a) In a suit for foreclosure of a tax lien on property, the court shall determine the market value of the property on the date of trial. ... (2) the amount bid by that person is equal to or greater than the aggregate amount of the judgments against the property, including all costs of suit and sale.
A Deed Without Warranty is a document that transfers title without any warranties, express or implied, as to any subjects.
A Non-Warranty Deed is also sometimes called a “Quitclaim Deed.” ... In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the seller's rights in the property.
Struck-Off Property Information Properties that went to a Sheriff's Sale and were not sold are called struck-off properties. ... When the property is bid, or struck-off to the entity, the deed will be made out to the taxing entities, and filed with the County Clerk's office.
The Ease of Investing in Tax Liens And you don't need a lot of money to invest in certificates or deeds. When you buy a tax lien, you basically paid the taxes for the homeowner in exchange for a certificate. The certificate is good for the amount you paid plus interest.
Investors buy the liens in an auction, paying the amount of taxes owed in return for the right to collect back that money plus an interest payment from the property owner. ... But that rarely happens: The taxes are generally paid before the redemption date. The interest rates make tax liens an attractive investment.
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