thatgeekinit t1_j8dz04h wrote
It could be worse. In NJ, the lien purchasers get to keep all the extra equity, its legalized theft from poor and elderly people to wealthy investors.
aresef OP t1_j8e1lvy wrote
that's fucked up. The most fucked up thing we have here is ground rent
Holiday_Ad_5445 t1_j8hzr0m wrote
A couple decades ago, the Baltimore City ground rent blindside vulnerabilities were mitigated by new statutes, and a streamlined redemption process was established.
Before these changes, some property owners lost their houses without notice from the new rent owner that rent was due.
Leasehold property owners should be very concerned to receive certified mail for unrelated advertisements, as the sender could claim the mail was a notice about the rent. By the time the property ownership changed hands, there was nothing the original owner could do to get it back, except to by it at an escalated price.
Leasehold property was not intended to create this hardship. Some people figured out how to abuse the law to take property without paying for it.
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