The first is that difficulty arises in the event of nonpayment.
In the case of a mortgage, the house could enter foreclosure for nonpayment of the tax.
In some cases, rather than gain control over the property, the investor may be buying the lien to earn the interest that is accrued by the nonpayment of the tax.
The result of nonpayment could mean jail time.
A lease under the Settled Land Act 1882 must be by deed and must be made to take effect in possession not later than 12 months after its date; the best rent that can reasonably be obtained must be reserved and the lease must contain a covenant by the lessee for payment of the rent, and a condition of re-entry on nonpayment within a specified time not exceeding 30 days.
