Boyer v. US Bank (In Re American Lodging, Inc.)

DECISION

If real estate taxes remain unpaid long enough, the property will be offered for sale by the county. The successful bidder at such a sale does not become the owner of the property, at least not immediately. Instead it obtains a lien upon or succeeds to the county’s lien upon the real estate in question. The owner then has one year within which to redeem the property by paying the minimum bid, together with interest on the amount of the buyer’s total bid. 1 In that event, the bidder’s money is refunded to it, together with interest. If the property is not redeemed, the successful…