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A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
A tax deed auction is held by municipalities (such as a city or county) to sell homes that are in tax foreclosure. The tax deed is obtained by the local government and sold at auction to the ...
Foreclosure of chattel mortgages (mortgage of movable property) are governed by Sec. 14 of Act No. 1506, which gives the mortgagee the right to sell the chattel at a public sale. It has also been held that as regards chattel mortgages, the law does not prohibit that the foreclosure sale be done privately if it is agreed upon by the parties. [49]
The Mortgage Forgiveness Debt Relief Act of 2007 was introduced in the United States Congress on September 25, 2007, and signed into law by President George W. Bush on December 20, 2007. This act offers relief to homeowners who would have owed taxes on forgiven mortgage debt after facing foreclosure. The act extends such relief for three years ...
A second person, Andre Ohanessian, owed $6,000 in delinquent taxes on a 2.7-acre property in Orchard Lake Village. Oakland County foreclosed on Ohanessian’s property, sold it for $82,000 and ...
The Michigan Supreme Court will soon decide whether a 2020 ruling must be applied retroactively. If it is, most Detroit homeowners won't benefit.