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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Why does Bank pay property taxes Posted by Brian Rodgers on January 12, 2010 at 4:49 PM In Reply to: Re: Why does Bank pay property taxes posted by Bill H on January 12, 2010 at 1:08 PM : : I'm following a TS property from Last year to this year. The property has been vacant for 7 mos, I just checked the taxes, and they are now paid. Bank must have paid them, WHY? : : DC : Simple answer. Property taxes are the most superior lien against a property. The mortgagee will be wiped from title by the tax lien if it MATURES,..NOT..if it merely goes to a lien sale...ONLY if it matures to the tax lien buyer. The bank does not want this to happen so they pay the taxes. : Good Luck, : Bill H Bill, Is this the case for California properties? I was told by title that the most CA counties do very little to collect until after several years. Follow Ups: Re: Why does Bank pay property taxes Bill H 6:34 PM, 01/12/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : I'm following a TS property from Last year to this year. The property has been vacant for 7 mos, I just checked the taxes, and they are now paid. Bank must have paid them, WHY? : : : DC : : Simple answer. Property taxes are the most superior lien against a property. The mortgagee will be wiped from title by the tax lien if it MATURES,..NOT..if it merely goes to a lien sale...ONLY if it matures to the tax lien buyer. The bank does not want this to happen so they pay the taxes. : : Good Luck, : : Bill H : : Bill, Is this the case for California properties? I was told by title that the most CA counties do very little to collect until after several years. [ 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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