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 - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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