Tax liens in Maryland can be a messy affair, to say the least. We previously discussed what a tax lien is and in it; what tax sales are. Lawyers can help you reduce the damage a tax sale does to your financial situation, but what if you were unable to find a good tax lien attorney in Maryland in time?
In this article, we will discuss what your options are in case you were unable to pay off the taxes and penalties and your property got involved in a tax sale. Yes, you can ‘redeem’ your property, even if the property has actually been sold off in the sale!
Redeeming Your Property
By default, homeowners can redeem their property at any time through the tax sale process by simply paying the tax due along with varying costs and fees incurred by the government or the tax lien certificate holder (depending on how far the tax lien proceedings have gone).
Generally, the State of Maryland gives homeowners a period of 6 months to ‘redeem’ your home. During this redemption period, the title of your property isn’t transferred to whomever purchased the tax lien certificate for your property and you, the owner, have the option of paying the tax debt and therefore rebutting the lien.
This is true across the state of Maryland, except in Baltimore City, where the redemption period is 9 months. Once this period is over, the tax lien certificate holder can initiate the foreclosure process.
The Cost of Redemption
It goes without saying that redeeming any property caught in the process of tax liens is going to cost – and this doesn’t just include the taxes due, but also:
- Interest on due amount (starting from the day of default, which is 1st October in many cases)
- Additional taxes and penalties as imposed by the government
- Any taxes, interest or penalty as paid by the bidder
- The total amount the bidder paid at the tax sale, plus interest on that amount
- Any (applicable) expenses incurred by the winner in order to purchase the property. This includes postage, mailing costs, tax lien attorney fee, title search fee, HOA dues, etc.
Naturally, the longer you wait, the more you’ll have to pay. This is why it is usually a good idea to try and involve your tax lien lawyer in Maryland as quickly as possible.
Once the six-month period expires (nine months in Baltimore City), your redemption period ends, and the tax lien certificate holder must apply for the title of your home by initiating the foreclosure process. You will get two notices from the certificate holder before foreclosure. If the first notice is sent during the 6th month, they will have to wait 2 more months before initiating the foreclosure process and 30 more days after the second notice.
Experienced Tax Sales Attorney in Maryland
LewisMcDaniels, tax lien attorneys in Maryland, are well-versed with all the intricacies of the tax lien process and may be able to help you minimize your tax sale property redemption expense, along with ensuring that the process is smooth and in your favor. If you find yourself in a situation where you’re facing a tax sale or tax lien, it is imperative that you seek immediate legal representation. LewisMcDaniels can help you obtain the best possible outcome. Get in touch today by sending us a secure message or by calling: 301-818-0405.
