If I buy a Florida parcel of land at auction with a tax deed, and there is a defaulted mortgage on the parcel, am I responsible for the balance of the mortgage? Would I be able to eventually get a "Warranty Deed"? When would that defaulted mortgage be cleared from the title?
The mortgage lien is typically wiped out after the completion of the tax deed sale. To have insurable title, you typically need to file a quiet title action to eliminate any potential claims. Alternatively, you can take possession and pay taxes on the property for four (4) years to possibly avoid filing a quiet title action.