Can I sell property which I obtained by a tax deed? The answer is yes you can. However, there is practical problem as far as selling property that you obtain through a tax deed in that you cannot usually have titled insurance issued to ensure marketable title if you have a tax deed unless you own the property or if the tax deed is four years old. In that case well then you usually sell the property that you’ve attained through a tax deed.
The other way of doing it is if you want to sell the property and have title insurance issued is to have a suit quiet title, that’s a lawsuit which wherein you contact all the interested parties to make sure that they receive notice of the tax deed sale, and that way make sure that they had notice and therefore they have no further interest in the property. That’s called a suit to quiet title. It usually takes about six or seven, eight months. You’re probably budgeting in the neighborhood of $2,500 as far as costs and attorney fees or whatever. Remember, that’s a budget, not a firm number to do a suit to quiet title.
You do own the property under tax deed and if you cut a deal with someone and they want to buy the property and they understand they’re not going to get title insurance or they get title insurance subject to them doing a suit to quiet title which may impact the value of it, you can sell the property to them as long as they’re not requiring you to give titled insurance simply by giving a deed to the property.
If you would like to sell your property that’s subject to a tax deed or you obtain the property through a tax deed, well you give me a call. I’ll be glad to chat with you about it and talk about what you can do as far as that’s concerned, but you do have title under tax deed and so I’ll be glad to talk to you about it. My phone number’s 727-847-2288.