The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1952-06-04
Tax Deed Law
Explained By
Earl Adams
Tax Certificate Holder
And Landowner Rights
Clarified BY Circuit
Court Clerk I'm Statement

Perhaps the most misunder-
stood law of this state today is
the one governing the issuing OF
a tax deed, Circuit Cour Clerk
Earl R. Adams said today.
"The law is misunderstood be-
cause the purchaser of a tax GER
tificate will not devote sufficient
time to familiarize himself with
the law" Adams said.
The belief that the holder OF
a ta1 certificate becomes the
owner of the piece of real estate
involved after two years is far
from true, Adams said.
1t was also explained by the
clerk that the holder of a certi-
ficate might bid in a certificate
for the maximum interest of 1s
per cent, but this will not mean
that the holder will receive 1S
per cent interest for each year
he holds the certificate.
The state law provides that 8
per cent interest shall be made
each year after elapsation of the
first year.
1
Interest rates on certificates
are calculated from the date of
the certificate until April OF
the following year, paid as in
terest in that bid by the pur-
chaser and 8 per cent each year
thereafter" Adams said.
"a certificate two years old on
which the holder bid 10 per
cent, receives 26 per cent inter-
est on the face Of the certificate, y
the clerk said,
THE holder Of certificate
win receive 5 per cent interest
regardless of the period of time
that has elapsed since the date
of the certificate" Adams said.
'If a certificate is redeemed
within one week after it has
been issued, the holder of his
bid with per cent or more,
will receive 5 per cent interest"
So much for the interest on a
certific ate.
Tax Deeds
The nolder of a certificate cam
not make application for a tax
deed until two years have elaps-
ed. Any time during that period
the landowner, his agent, any
person claiming interest in the
land or the creditor of the own
er or claimant may redeem the
property, the clerk said.
II not redeemed the holder Of
the Gel .ificate at any time after
two years have elapsed can make
application with the clerk for a
tax deed to be issued.
AT that time the clerk collects
from the applicant the money
necessary to redeem all other
certificates outstanding against
the land, plus the Clerks fee and
advertising costs.
Notice of the application must
be published once a week for
four consecutive weeks.
The clerk must mail to the
owner notice of the application
for the deed and again the owner
has the opportunity to redeem.
II the owner fails to redeem.
tn land is then sold at public
auction to the igheSt bidder. In
opening the sale the clerk reads
the notice of the sale that had
been published and places IS the
first bid the amount the holder
of the certificate has invested.
II there are no other bids, the
land is sold to the certificate
holder. II there are other bids,
the certificate holder is allowed 70
bid and the property is sold to
the highest bidder.
II unsuccessful az the auction.
the holder Of the certificate is
reimbursed all Of the money he
has invested, plus legal interest.
The holder Of a certificate has
no legal right 10 the land in
question. II subsequent years
taxes are paid by the certificate
holder there is no law which re-
CURES the property owner TO re-
imhurse the certificate holder for
those taxes neither is there a
~ which authorizes the clerk
10 collect such taxes
al have known Of some cases
Where persons have paid taxes
on lard where they held eertifi-
Gates ard as . result have lost
considerable money" Adams said
Tnare are sonee property own
erS who permit their taxes 10 20
delinquent re tire certificates are
bid In at 70 interest, they wait
the entire two years before re-
deeraing. Meanwhile they LEI
their tax money CIT az interest
Il the certificate is Did in a
high rate of interest thev come
in irnraes iately ard redeem, tire
clerk SAID