Ontario Tax Sale Property Forum

Tax Sale Forum => Questions and Answers => Topic started by: EDDIE on March 07, 2009, 05:07:29 PM

Title: If you bid for a Property in the Province of Ontario
Post by: EDDIE on March 07, 2009, 05:07:29 PM

If you bid for a property in the province of Ontario and you win the bid , does that property become yours free & Clear?, or does it still belong to the Home Owner?.

Title: Re: If you bid for a Property in the Province of Ontario
Post by: Rob on March 08, 2009, 03:32:11 PM

It becomes yours once you have paid the remaining taxes and have a deed issued to you.  They have up until this point to pay any back taxes.  In a tax sale you must pay your bid, the outstanding taxes (+ fees) + any crown liens.

Title: Re: If you bid for a Property in the Province of Ontario
Post by: Pfm1011 on March 08, 2009, 10:40:56 PM

Once you have done the above , The landowner cannot come back, Its not like alot of places ( BC For one) where you owner can live there for a year then pay off the loan..

Title: Re: If you bid for a Property in the Province of Ontario
Post by: farrouk on March 08, 2009, 11:08:56 PM

Rob:
Just a minor correction to what you said. You do not have to pay off the crown lien to gain title to the property. But of coarse it will stay on the title and at some point in the future they could foreclose on you to get their money.