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 - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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