Does paying property taxes give you ownership in NC?

Paying someone else's taxes will not entitle you to any legal ownership to the property.

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Verified Complaint for Replevin or Repossession

Repossession Form Buy Foreclosure In Mecklenburg

Category:

Civil Actions - Replevin

State:

Multi-State

County:

Mecklenburg

Control #:

US-000265

Format:

Instant download

Description

This form is a Verfied Complaint for Replevin. The plaintiff has filed this action against defendant in order to replevy certain property in the defendant's possession.

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FAQ

If you are interested in purchasing a tax foreclosure property in North Carolina, we encourage you to look over our up-to-date list of properties going up for auction. In most cases, the bidding process occurs at the County Courthouse.

Paying someone else's taxes will not entitle you to any legal ownership to the property.

Properties with delinquent real estate taxes are subject to tax foreclosure. When a tax foreclosure action is adjudicated, the ownership of the property is transferred from the delinquent taxpayer to a new owner. The new owner is responsible for all future taxes.

Both procedures result in the borrower losing the property. With a repossession, the lender takes specific collateral, like a car. With a foreclosure, the lender goes through a detailed legal process, allowing it to sell the property, such as a house, to recover the outstanding debt.

When a tax foreclosure sale is confirmed, the ownership of the property is transferred from the delinquent taxpayer to a new owner pursuant to judgment of the Court. The new owner is responsible for all future taxes.

One way to attack a foreclosure is to argue that the foreclosing party does not have standing to foreclose. If the foreclosing party cannot produce the promissory note on which the loan is based, the court likely will dismiss the case.

The Purchaser at the foreclosure sale must allow the tenant to stay at the property until either the end of the existing lease term or one year from the date the purchaser acquires “title” (legal ownership of the property)whichever is sooner. The purchaser is not required to renew the lease.

For homeowners facing immediate foreclosure, filing for bankruptcy or obtaining a temporary restraining order (TRO) can be effective solutions. Chapter 7 or Chapter 13 bankruptcy creates an “automatic stay,” which temporarily halts all collection activities, including foreclosure auctions.

More info

There are two methods to foreclose a tax lien. Learn how the North Carolina foreclosure process works, including preforeclosure steps, foreclosure procedures, and homeowner rights .This article will help you understand how to report the cancelation of a debt and the income or loss recognized from property that was foreclosed. We help home buyers interested in the HUD home program in Mecklenburg, Union, Gaston, Cabarrus, Iredell and Stanly counties. You will need to fill out an Upset Bid form as well as a Certification of Identity. On the forms, the "Plaintiff" is Mecklenburg County. Repossession and foreclosure are both processes that a creditor uses to reclaim property you put up as collateral for a loan, the procedures are different. Manufactured Homes: Repossession or Foreclosure? Architect Susana Torre explores a theme developed in the RECORD's October 1979. Round Table on housing and community design.

Repossession Form Buy Foreclosure In Mecklenburg

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FAQ

How do I buy tax delinquent property in North Carolina?

Does paying property taxes give you ownership in NC?

How does tax foreclosure work in NC?

Is repossession the same as foreclosure?

How do tax foreclosure sales work in NC?

How to buy a tax delinquent property in NC?

How do you dismiss a foreclosure?

How long can a tenant stay in foreclosed property in NC?

Is a repossession the same as a foreclosure?

What action can temporarily stop a foreclosure?

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