Montana Counties
State Auction Process in Montana
North Carolina is a tax deed state, which means that the county can foreclose on properties with delinquent taxes and sell them at a tax foreclosure sale. Here is an overview of the tax deed process in North Carolina:
- Foreclosure Process Initiation: After a property owner is delinquent on taxes for 3-4 years, the county will initiate the foreclosure process. The county will send a certified notice to the property owner informing them of the impending foreclosure.
- 30-Day Repayment Period: The property owner has 30 days from receiving the certified notice to repay the delinquent taxes. If they fail to do so, the county will proceed with the foreclosure.
- Title Search: Once the foreclosure process has been initiated, the county will conduct a title search on the property to ensure there are no other outstanding liens or claims.
- Advertisement and Pre-Sale: The county will advertise the property in the local newspaper for at least one week before the tax foreclosure sale. The property owner has until the day of the sale to redeem the property by paying the delinquent taxes.
- Live Auction: The tax foreclosure sale will be held at the county courthouse, and it will be an oral bid auction using the Premium Bid Method. The opening bid starts at the delinquent taxes, penalties, and fees. Bidders must register before the sale and can make acceptable payments in cash, cashier’s checks, or certified funds.
- Upset Bid Process: After the auction, anyone can submit a higher bid within 10 days of the sale date. The new bid must increase the winning bid by 10% for the first $1,000 and 5% per thousand after that. Each time an upset bid is filed, a new 10-day upset period begins.
- Post-Sale Process: All properties must go through the 10-day upset bid period. Once the upset bid period has expired, the property will be legally sold to the highest bidder. Approximately 30 days following the sale, the winning bidder will be mailed the tax deed, which may be in the form of a commissioner’s deed or a quitclaim deed.
- No Redemption Period: Unlike some other states, North Carolina does not have a redemption period after the property is sold at the tax foreclosure sale. Once the property is sold, the former owner has no right to reclaim it by paying off the delinquent taxes.
Foreclosures in Montana
In Montana, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.
- Judicial Foreclosure: In Montana, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process. Judicial foreclosure is the more common process, and it is initiated by the lender filing a lawsuit against the borrower. The court will then hold a hearing to determine whether the lender is entitled to foreclose on the property. If the court finds in favor of the lender, the court will issue a judgment of foreclosure. The borrower will then have a certain period of time to pay off the debt, and if they do not, the property will be sold at a public auction.
- Non-Judicial Foreclosure: The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A power of sale clause is a clause in a mortgage or deed of trust that gives the lender the right to sell the property without going to court. In Montana, the non-judicial foreclosure process is governed by the Montana Code Annotated, Title 71, Chapter 1, Part 3.
- Power of Sale Foreclosure Guidelines: The non-judicial power of sale foreclosure process in Montana is as follows:
- The lender must record a notice of sale in the county where the property is located.
- The notice of sale must be mailed to the borrower at their last known address at least 120 days before the foreclosure sale.
- The notice of sale must also be published in a newspaper of general circulation in the county where the property is located once a week for three consecutive weeks.
- The notice of sale must include the time, date, and place of the foreclosure sale, as well as the name of the borrower, lender, and trustee.
- The foreclosure sale must be conducted at the courthouse in the county where the property is located between the hours of 9:00 AM and 4:00 PM.
- The property must be sold to the highest bidder at the foreclosure sale.
- The borrower has no right of redemption after the foreclosure sale.
Quick Facts
– Judicial Foreclosure Available: Yes
– Non-Judicial Foreclosure Available: Yes
– Primary Security Instruments: Deed of Trust, Mortgage
– Timeline: Typically 150 days
– Right of Redemption: No
– Deficiency Judgments Allowed: Varies
Online Auction Resources
- Bid4Assets
- Auction.com
- Xome
- ServiceLink Auction
- Hubzu
- RealtyBid
- Williams Auction
- HUD Homes USA
- Bank Foreclosures Sale
- U.S. Treasury Auctions
- Montana Online Auctions
- Land Search Auctions Montana
- Montana Real Estate and Auction
- MT Land Source Auctions
- Pate Auction Montana Surplus
- Shobe Auction
- Northwest Ranch Land Auctions
- Concierge Auctions
- United Country Auctions Montana