Here, tax sale extinguishes everything, including recorded leases. But leaseholder would be given notice and an opportunity to pay up the taxes (which would then become a lien against the land). But the really smart leaseholder would show up at the sale and buy it, as you would never get a better deal. Unrecorded leases, of course, are only enforceable against the lessor, and are pretty useless against anyone else.
Was at a tax sale a few years ago, and there was a pretty valuable piece of commercial property, owned by a mortgage company, up for auction. At the intersection of US Hwy 12 and a major highway. Was wondering why a mortgage company would let it go, and discovered that it had been an old gas station site and was polluted. Turns out that a tax sale is the only way to shed liability under environmental laws, and the deep-pocket mortgage company was doing just that.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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