Federal Tax Lien On Foreclosed Property
I am interested in bidding on a foreclosure property at the county courthouse. It has a federal tax lien on it. It is my understanding that the Fed can come back within 120 days and take the property back from me (pay me what I bought it for plus any improvements). After the 120 days, the lien is removed. Does anyone know if this is correct, or any resource that will help me understand this better (other than a high-priced lawyer)??
thx
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