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Buyers tell Boone County board tax-sale lots are effectively ‘dead’ due to title issues
Summary
Two buyers said they purchased tax-sale lots in Candlewick Lake to build spec houses but discovered unresolved liens and title problems that are blocking financing; the board agreed to add the matter to an administrative agenda for staff and county trustee follow-up.
At the Boone County Board meeting Dec. 18, two recent purchasers of county tax-sale lots in Candlewick Lake urged the board to investigate title problems they said are preventing the properties from being sold or financed.
Jack Gary Olich and Gary Combs told the board they bought two lots at tax sale intending to build spec houses, completed foundation work on one parcel and applied for permits, but were later told by title underwriters and their bank that the titles could not be cleared. "We bought a dead piece of property," Olich said, describing lost financing and roughly $100,000 in investment at risk.
The buyers said county records and prior handling of tax-deeded property appear to be incomplete and that, according to their counsel and title companies, the county has a responsibility to clear prior liens and correct ownership claims when selling tax-deeded property. They asked the board to consider corrective action so other purchasers do not face the same problem.
Sherry Gieske, who identified herself and said she had spoken with the land bank, told the board she had been assured help was being pursued and recommended inviting county staff and land-bank officials to explain the situation. The chair and other commissioners agreed to place the matter on the administrative agenda for the first Thursday in January and asked staff to invite the buyers and county staff (including Eric Cetera and trustee Newport) to provide more detail.
Why it matters: If titles on tax-sale parcels were not cleared before sale, purchasers can be left unable to obtain financing or convey clear title, heightening the risk that properties will revert to the county and that public tax-sale programs will fail to return properties to productive use.
Next steps: The board asked staff to agendize the matter at the administrative meeting in early January so county staff and the trustee can report on title-clearance practices and any corrective steps.
