WHY HIRE AN ATTORNEY TO COMPLETE YOUR TAX LIEN SALE?
If you’ve recently purchased a property at a tax lien sale in Maryland, you may be worried about how to complete the sale or the right of redemption that the former owner may have. The right of redemption allows the former owner to reclaim their property by paying off the outstanding tax debt and associated fees. This can be a major headache for the new property owner, who may have invested time and money into the property.
Fortunately, there is a way to revoke the right of redemption in Maryland. You can hire an attorney to help you through the process.
Why do you want to revoke the right of redemption?
If purchasing a property at a tax lien sale, you will want to revoke the right of redemption for several reasons:
- Certainty: If you’re planning to renovate or sell the property, you may not want to wait six months to see if the former owner will reclaim it.
- Investment: You may have invested time and money into the property and want to ensure that you have complete control over it.
- Risk: There is a risk that the former owner will not pay off the outstanding debt during the right of redemption period, leaving you with a property that you cannot sell or renovate.
How can an attorney help?
An attorney can help you through the process of revoking the right of redemption in Maryland. The process is complicated and time-consuming. If it is not done exactly right, you could lose your entire investment. Here are some of the steps involved:
- File a petition: You’ll need to file a petition with the court to revoke the right of redemption. Your attorney can prepare the petition and file it on your behalf.
- Notify the former owner: You’ll need to provide notice to the former owner that you’re revoking their right of redemption. Your attorney can ensure that this notice is provided correctly.
- Attend a hearing: There will be a hearing to determine whether the right of redemption will be revoked. Your attorney can represent you at the hearing and argue on your behalf.
- Obtain a court order: If the court grants your petition, you’ll need to obtain a court order that revokes the right of redemption. Your attorney can help you obtain this order.
As you can see, revoking the right of redemption in Maryland can be a complex and time-consuming process. Hiring an attorney to help you through the process can ensure that it’s done correctly and efficiently. If you’re the new owner of a property that was purchased at a tax lien sale and you want to revoke the right of redemption, consider consulting with an attorney to help you navigate the process.