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Can a third party buy a tax lien at a auction. and can the home owner still keep his home?
Wiki User
∙ 16y ago
Yes, in theory. A lien is recorded assertion of an unpaid debt, so a town could sell its lien to a collection agency (if laws permit) and that agency could then foreclose on the lien by obtaining a court judgment on the debt.
However, many states frown on this and make it much easier for the town to simply auction the property itself to the public, take the proceeds in satisfaction of the debt, remove the lien, and let the new owner evict the taxpayer (or rent to the taxpayer, if preferred). A third party might have a harder time of getting the lien foreclosed.
Wiki User
∙ 16y ago
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