Understanding the Purpose of a Tax Deed in Fort Lauderdale, FL
When you want to explore the use of a tax deed in Fort Lauderdale, FL, The Rashtanov Law Firm, P.L. has you covered. First, it’s important to have an understanding of the basics. This type of deed is for real property and issued by a county-level governmental entity.
The entity involved depends on how the particular county is organized. The statutory default entity is the county clerk, as in Miami-Dade and Palm Beach counties. In Broward County, the deed is issued by an entity under the auspices of the Board of County Commissioners. Knowing who administers the tax deed sale tells you who will hold the sale surplus.
Understanding Tax Certificates
A tax deed differs from a tax certificate. Tax certificates are essentially tax liens issued on a property for each year property taxes are not paid. If, for example, taxes were not paid on a property in one year, a tax certificate would be issued for it for that year, and for all subsequent years in which taxes are not paid.
Additional Tax Certificate Details
Tax certificates are sold the year after the taxes were due. The certificates will be sold in a reverse auction where purchasers bid down the interest rate. Redemption of certificates may be handled through the county by paying the outstanding taxes, fees, and interest.
The tax certificate foreclosure process is initiated by the tax certificate holder filing for a tax deed. The holder must wait 22 months before applying. The certificate holder must also pay certain application and processing fees. Most importantly, they must pay to redeem any other outstanding certificates on the property, even ones that were issued later than the certificate held by the applying holder.
Florida law requires strict compliance with the notice requirements. The county runs a current owner title search on the property and sends notices to all the outstanding lienors. It also holds a tax deed sale and runs a notice by publication in a local newspaper of its choosing. For assistance with all tax deed and certificate issues, rely on our firm. We would be honored to serve you.
Contact us today for tax deed assistance. We are proud to serve our clients in Fort Lauderdale, FL, and surrounding areas.
THE INFORMATION CONTAINED HEREIN IS PROVIDED FOR INFORMATIONAL PURPOSE ONLY. IT IS NOT INTENDED AND IS NOT TO BE INTERPRETED OR USED AS LEGAL ADVICE. EACH LEGAL PROBLEM IS UNIQUE; THEREFORE, CASE SPECIFIC LEGAL ANALYSIS BY A LICENSED ATTORNEY IS RECOMMENDED.