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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Possible avenues of defence. Posted by JD on January 06, 2002 at 7:04 PM In Reply to: Possible avenues of defence. posted by Nick(Colorado) on January 06, 2002 at 1:43 PM The IRS is not required to file an intent to redeem in Colorado or any other State. They almost always do file an intent to redeem (when they intend to redeem) in Colorado, but only as a curtosy to the Public Trustee. In the Counties that issure PT Deeds on the 76th day, you can't get Title Insurance until the 120th day if there is an IRS line on the property, regardless if the an intent was filed or not. : Roberto Hirlemann: : Please note that agencies of the US government, other : than the IRS, enjoy a one year redemption period. Roberto : this may be a real case of back luck, especially if your : cost of money is greater than 6%, opportunity cost, etc... : Two possible avenues of defence: : 1. As you noted: Agencies of the US government, other : than the IRS, enjoy a one year redemption period. : NOT private investors to whom they sell there : portfolios. : 2. Please review Florida's law, very carefully. Under : Colorado law the redeeming party must inform the : trustee of the intent to redeem before the owner's : redeeption expirers. Apparently this is also the : case for agencies of the US government. : Also, please excuse my ignorance, but what is the SPA? Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : The IRS is not required to file an intent to redeem in Colorado or any : other State. They : almost always do file an intent to redeem (when they intend to redeem) in Colorado, but : only as a curtosy to the Public Trustee. In the Counties that : issure PT Deeds on the 76th day, you can't get Title Insurance : until the 120th day if there is an IRS line on the property, regardless if the an intent was filed or not. : : Roberto Hirlemann: : : Please note that agencies of the US government, other : : than the IRS, enjoy a one year redemption period. Roberto : : this may be a real case of back luck, especially if your : : cost of money is greater than 6%, opportunity cost, etc... : : Two possible avenues of defence: : : 1. As you noted: Agencies of the US government, other : : than the IRS, enjoy a one year redemption period. : : NOT private investors to whom they sell there : : portfolios. : : 2. Please review Florida's law, very carefully. Under : : Colorado law the redeeming party must inform the : : trustee of the intent to redeem before the owner's : : redeeption expirers. Apparently this is also the : : case for agencies of the US government. : : Also, please excuse my ignorance, but what is the SPA? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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