Sat
Nov 10 2012
09:41 am

Finding a better use for County owned property (most of which is located inside the City) is one of the good things we've been working on in the Trustee's office. Thanks to County Commission, Community Development, the Law Director's office and the Mayor's office for supporting this improved process.

(link...)

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Crowley 's picture

Well done!

Well done!

Up Goose Creek's picture

Title

Chad, Do these properties have clear title? How is this different from a regular tax sale?

Tamara Shepherd's picture

*

Goose, per the KNS story Chad links, it looks to me like the county has ditched the tax sale/auction process in favor of issuing RFPs to have the properties developed?

The story says the county has had difficulty getting purchasers at auctions to fulfill their obligations to rehab the properties in the manner the county wants them to?

(Disclaimer: I dunno how these tax sales formerly worked, so I'm trying to guess at how they formerly worked via how this story seems to suggest the RFP process will now work. So why did I presume to "translate" this story's contents, anyway!)

CBT's picture

Goose and Tamara, We are not

Goose and Tamara,

We are not ditching the auction process. We are simply adding some layers before an auction which would put properties into the hands of a partner for a buildable lot or nearby owner in the case of a sidelot (not buildable) and possibly some for a government use (drainage, park and the like). At auction, the properties may only bring a few hundred dollars, with no assurance of development. The RFP will require that commitment. For those we cannot place to a higher and better use, those will be auctioned same as before.

As for title issues, those will remain. The properties will be transferred by quit claim deed which is required by law. However, most housing partners are willing to take that risk and do not need title insurance. I would note that the risk is very, very low given to my knowledge there has never been a successful legal challenge to a county tax sale.

The problem with tax sale properties is that title insurance companies usually won't issue title insurance because of the questions on notice to possible owners (Aunt Irma's lost cousin who moved to Colorado). That hurts the ability to sell the property or obtain a loan secured by the property to improve it. We are trying to solve some of those issues with changes to tax sale laws at the state level which will substantially reduce the risk and provide information in the Register's office all to enhance the ability to obtain title insurance.

Rachel's picture

Chad, Both the City and the

Chad,

Both the City and the County are goind good work on abandoned and blighted properties. Really happy to see it.

Good job!

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