Dayton, OH asked in Real Estate Law, Tax Law and Land Use & Zoning for Ohio

Q: Property lien purchased for 532.00.

A Lien was purchased for forgotten half a year of property taxes. Rookie mistake. Taxes are now current and will stay that way. The Lien expires in 3yrs. We don't plan on moving for 5+yrs. Have no mortgage and own home outright. Should I go ahead and pay lien in full? Can third party llc sieze my property after 1yr of non repayment of lien or can I let the lien expire as long as my taxes are kept current? What happens when lien expires and has not been repaid?

1 Lawyer Answer
Bruce Martin Broyles
Bruce Martin Broyles
  • Real Estate Law Lawyer
  • Lancaster, OH
  • Licensed in Ohio

A: Tax lien expires in 15 years. Interest rate negotiated on the tax certificate was probably 18%. In 15 years with interest the lien will be approximately $2100.00 and they will require you to pay Court costs and attorney fees to avoid the property going to Sheriff's Sale. It is not something you should ignore. Tax Certificates are purchased as investments.

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