WHO ARE WE?
Edison
Tax Services LLC purchases and services real estate tax liens that are sold by
individual municipalities. Presently, Edison
has tax liens in over 150 municipalities in multiple states.
THE TAX LIEN PROCESS
Many
municipalities auction tax liens to the public when property taxes are
delinquent. Purchasers, such as Edison, acquire the tax liens for the statutory interest
and become the senior lien holder on the property. The proceeds from tax
lien sales are used by government to fund municipal services such as schools,
police, fire departments and public works. Without these sales, many
municipalities would be unable to balance their annual budgets. Tax lien
statutes, including interest rates, vary from state to state.
Once
the lien is purchased, Edison holds the tax
lien certificate until the property owner redeems the tax lien. When a
property owner requests a redemption from the municipality, Edison
will provide all requested information to such municipality and surrender the
tax certificate. Once the municipality receives the payoff from the tax
payer, it will send Edison its lien amount and
interest. Edison is responsible for
maintaining detailed records on each lien acquired, properly securing all
certificates, coordinating pay-offs with municipalities and accounting for the
interest earned. Edison maintains all of the
financial information on each of its tax lien purchases within its proprietary
database.
THE TAX LIEN CYCLE
ANTITRUST POLICY
It
is, and always has been, the firmly established policy of Edison Tax Services
LLC to comply with all state and federal antitrust laws. This not only means
simply following the written law, but also conducting all business in conformity
with the highest standards of ethics and morality, and avoiding conduct that
might give even the appearance of wrongdoing. Because of the pervasive impact
and complexity of the antitrust laws, Edison
has established a formal antitrust compliance program, which includes a 24 hour
hotline.
If
you suspect any illegal activities associated with any tax lien auctions,
please call Edison’s hotline at 908-624-6197, there is no requirement to provide your name.
MORE INFORMATION
908-624-6100.