What if the property owner sells his property after I have purchased a tax certificate?

As a lien against the real. estate, you may foreclose against the new owner if the amount you ore owed is not paid from the sale proceeds.

What if the property owner does not pay future taxes?

If the owner does not pay his future taxes, the Treasurer may again sell additional tax certificates for the late delinquent years. The Treasurer must first notify the tax certificate holder of the Iater delinquency, and the holder will then have an exclusive thirty-day option to purchase the new delinquency.  In the event he purchases it, the new purchase will be a second lien, and will be at an 18% interest rate. The holder is not required to purchase the new delinquency, but if he does not and then later decides to file a foreclosure, he will have to pay all subsequent tax certificate holders their money before he can foreclose.

Am I required to do anything after purchasing the tax certificate?

You may be, depending upon what actions the property owner takes.  For instance, you are required to file a foreclosure within 6 years if the owner does not pay you, or you lose the right to collect the money.  Additionally, if the owner files bankruptcy, you will be required to file a proof of claim with the bankruptcy court.  There are other matters that can affect your legal rights to collect on the certificate, and you should always consult an attorney  if you receive a notice in the mail concerns the property. Likewise, it is imperative that you notify the Treasurer of a change of your address, and verify in writing that they have made that change.

If I buy a tax certificate, can I sell it or give it away?

Yes, you have the right to sell or assign the right to collect on the certificate to others, although very specific procedures must be followed with the Treasurer to make this sale or assignment valid.

Can I bid on a tax certificate for a delinquent parcel that I own?

No.  Ohio law specifically forbids a person from bidding on tax certificates covering property owned by that person or that person’s corporation.