Under Nebraska law, the County Treasurers sell the tax sale certificates in March of every year. In essence, the buyer pays delinquent taxes and obtains the tax lien on real property represented by the certificate which earns 14% interest. Some buyers just want the high-interest rates, while others want to use the first lien position to gain title to the property without paying fair value. That is, if the buyer pays the taxes for the next three years and gives the right notices in a timely manner the buyer can then get a “Treasurer’s Deed” to the property by following a certain procedure. Or the tax lien can be foreclosed by following a different procedure. But, as a buyer, if you wait too long, the tax lien expires and you have nothing.
HELPING PROPERTY OWNERS
As a land owner or a creditor with a lien on the property, you have a right to redeem the certificate and keep your property by paying off the back taxes, fees, and interest but you can lose that right. Certified mail service is all it takes and you have short time limits to redeem. If you ignore a letter or wait too long, you could lose your property.
TAX SALE CERTIFICATES IN BANKRUPTCY
Of course, if you are holding a tax sale certificate, and the property becomes involved in a bankruptcy, you have a new set of problems. Federal bankruptcy law is not consistent with state law, so while you are stayed from enforcing the lien, it might simply expire under state law.
WE KNOW TAX SALE CERTIFICATES
Very few lawyers know the tax sale certificate system. We do. We help countries with recovery upon real estate and personal property liens in bankruptcies. We help people protect the tax sale certificates when the property is involved in a bankruptcy. We help people who have a tax sale certificate being enforced against their property. But there are very short time limits, so call today. 402-436- 3030.
WARNING: Tax sale certificates are a high-risk investment. We do not recommend you buy tax sale certificates. We will not advise you as to whether you should, or how to, purchase tax sale certificates.