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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Tax Lien Priority Posted by SeanW on June 10, 2003 at 4:16 PM In Reply to: Equity Surplus posted by cecil casey on June 10, 2003 at 11:29 AM In N.C., property tax and state tax are very senior liens. So therefore they come as subject-to encumbrences on the foreclosed property, in a nonjudical foreclosure. If a tax bill goes unpaid too long, the government may start a judicial foreclosure... so the first deed of trust will protect its position by paying it. (Failing to pay tax is one of the usual clauses of a deed of trust which can start a foreclosure by a bank.) Follow Ups: Digging a little deeper SeanW 9:14 PM, 06/10/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : In N.C., property tax and state tax are very senior liens. : So therefore they come as subject-to encumbrences on the foreclosed property, in a nonjudical foreclosure. : If a tax bill goes unpaid too long, the government may start a judicial foreclosure... so the first deed of trust will protect its position by paying it. (Failing to pay tax is one of the usual clauses of a deed of trust which can start a foreclosure by a bank.) 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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