An interesting area of law that we practice, is in tax lien foreclosures. The laws in Arizona for dealing with unpaid property taxes is very aggressive for any investor who is willing to purchase pay the delinquent taxes at an auction. Specifically, if real property owners fail to pay the property taxes on their homes, commercial properties or raw land, the Arizona statutes allows the county treasure to lien the property for the unpaid. If the property owner does not pay the taxes for a period of two years, the counties will hold an auction and sell the tax lien to investors. When an investor purchases the tax lien from the county, they receive a certificate of purchase on the property. The certificate of purchase provides the investor the right to receive their principal plus interest if the property owner redeems and pays their property taxes. If the property owner does not redeem the delinquent property taxes and the taxes were sold to an investor, the investor has the right to file a complaint and foreclose on the property
This area of law is very tricky and fraught with timing and logistic traps. At Mark E. Hall, PC, we are experienced in the areas of real estate and property tax matters. We have handled over 100 tax lien foreclosure cases. We also provide to our clients a reasonable and competitive rate.