Things You Should Know
f you intend to buy property from Land Trust, you should be aware of the following:
Although most tax liens are removed from properties acquired by Land Trust, certain liens remain in effect. You should make a title search before you buy Land Trust property. You should also obtain a title insurance policy when you do make a purchase.
Under state law, Land Trust conveys title to any property it sells by means of a special warranty deed. This deed includes only a warranty against claims arising out of Land Trust’s ownership of the property. If anyone obtains a judgment against the property arising out of Land Trust’s ownership, Land Trust would be responsible to refund the purchase price of the property or pay the judgment, whichever is less. The special warranty deed does not include any warranty against claims arising from previous ownerships. Therefore, prior liens, easements, judgments, or any other encumbrances that follow the land are not covered.
Land Trust does not select the properties that it acquires. It takes title to any properties that are foreclosed for taxes in Jackson County and do not sell when offered at auction on the courthouse steps. Generally, Land Trust has not surveyed its properties and is not apprised of their history. For that reason, in all cases, Land Trust, its agents and employees make no representations as to the condition or location of Land Trust properties. All properties are sold as is and where is.
You should examine any property on which you intend to make an offer. You also should examine any records relating to the property. Where a property includes a building, you should inspect the building, both inside and out, before making an offer. To find out how to obtain access to property, call Property and Relocation Services at (816) 513-2894.