Tax Liens
Tax Liens

A Step-by-Step Guide to Florida Tax Lien Investments

Introduction:

Investing in tax liens in Florida can be a lucrative venture if done correctly. This step-by-step guide will help you understand the process of investing in Florida tax liens and address various related queries, such as common law marriage in Florida, alimony, and tax deed auctions.

Understanding Florida Tax Liens

What is a Tax Lien?

A tax lien is a legal claim by a government entity against a noncompliant taxpayer’s assets. In Florida, if a property owner fails to pay their property taxes, the local government can sell a tax lien certificate to investors. This certificate gives the investor the right to collect the unpaid taxes, plus interest, from the property owner.

Can Someone Take Your Property by Paying the Taxes in Florida?

If an investor buys a tax lien certificate and the property owner fails to pay the back taxes within a specified period, the investor can potentially foreclose on the property and obtain ownership. However, this process involves multiple steps and legal requirements.

Tax Deed Auctions in Florida

Tax deed auctions are events where properties with unpaid taxes are sold to the highest bidder. These auctions can be a way to acquire properties at a fraction of their market value.

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How to Buy Tax Deeds in Florida

  1. Research: Before participating in a tax deed auction, research the properties and understand the risks involved.
  2. Attend Auctions: You can attend tax deed auctions either in person or online.
  3. Bid: Place your bid on the property you are interested in.
  4. Payment: If you win the bid, you must pay the full amount promptly.

Do You Own the Property if You Buy a Tax Deed?

When you buy a tax deed, you gain ownership of the property, subject to any remaining liens or encumbrances. It’s essential to perform due diligence before bidding.

Common Law Marriage in Florida

Does Florida recognize Common marriage?

common law marriage is a union without a formal ceremony or license. Many states recognize common law marriages, but Florida does not. Florida abolished common law marriage in 1968. However, common law marriages established before that year or validly entered into in another state are recognized.

Is there common law marriage in Florida?

As mentioned, Florida does not permit new common law marriages. Couples must obtain a marriage license and have a formal ceremony.

Alimony in Florida

How is Alimony Calculated in Florida?

Alimony is financial support paid to an ex-spouse after divorce. The amount and duration of alimony depend on several factors, including the length of the marriage, each spouse’s financial resources, and their standard of living during the marriage.

Florida Alimony Calculator

An alimony calculator can help estimate potential alimony payments based on Florida laws. While these calculators provide a rough estimate, actual alimony awards can vary significantly.

Types of Alimony in Florida

  1. Bridge-the-Gap Alimony: short-term support to transition from married to single life.
  2. Rehabilitative Alimony: Support to help the receiving spouse become self-sufficient.
  3. Durational Alimony: Set for a specific period, often in shorter marriages.
  4. Permanent Alimony: Ongoing support, usually in long-term marriages.

How to Calculate Alimony in Florida

To calculate alimony in Florida, consider:

  • The length of the marriage.
  • The standard of living during the marriage.
  • Each spouse’s financial resources.
  • Contributions to the marriage, including homemaking.

Florida Alimony Laws

Florida’s alimony laws are designed to ensure fairness and equity. Courts consider various factors, including adultery, when determining alimony.

Conclusion

Investing in tax liens in Florida and understanding related legal matters like common law marriage and alimony can be complex. However, with the right knowledge and research, these can be manageable and profitable ventures. For specific legal advice, always consult with a professional, such as Dewitt Law at Dewittlaw.com

 

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