Re: Tax Lien on home

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Posted by njdave on July 19, 2003 at 14:11:00:

In Reply to: Got Tax lein on home..what does this mean? posted by Aly on July 18, 2003 at 23:40:19:

I'm sure that the process in Texas may differ from what is used in New Jersey. In NJ, once a homeowner fails to pay taxes due, the taxing authority creates a lien, and exposes that lien to public auction. Proceeds from the Tax Lien auction are used to pay the taxes due. The lien is evidenced by a tax lien certificate (a debt) payable at a stated interest. The homeowner has a specific period during which he/she may redeem the lien by paying the face value, plus interest and fees.
In NJ, the redemption is 2 years (if the lien was purchased by an investor) or 6 months if the lien was not sold at auction, but purchased instead by the taxing authority.

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: I'm sure that the process in Texas may differ from what is used in New Jersey.  In NJ, once a homeowner fails to pay taxes due, the taxing authority creates a lien, and exposes that lien to public auction.  Proceeds from the Tax Lien auction are used to pay the taxes due.  The lien is evidenced by a tax lien certificate (a debt) payable at a stated interest.  The homeowner has a specific period during which he/she may redeem the lien by paying the face value, plus interest and fees.


: In NJ, the redemption is 2 years (if the lien was purchased by an investor) or 6 months if the lien was not sold at auction, but purchased instead by the taxing authority.








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