Irs INFO
I want to pick up a house at a forclosure on the seinor morgage. How can I find out if there is an IRS lien on the property. Even though the IRS lien would be listed later, I am thinking I will still be liable. Is that true?
Thanks
The IRS has a right of redemption.
Get a title report / abstract or search the recorder for the IRS lien.
The trustee holding the sale might be able to tell you.
Would the lien also be listed at the court house?
it would be recorded w/ thru county recorder...
this table might not post correctly, buy here are a couple state (CA) and fed liens...
Instrument Number Date Filed Document Type Name
(+) = More Names Associated Name
(+) = More Names Legal Description Book-Page Index Status
1964070843 01/02/1964 TAX LIEN IRS SOLAR BOWL INC CAL ST EMPL 2012 - 415 Perm
1964070844 01/02/1964 TAX LIEN IRS CHRISS COFFEE SHOP (+) CAL ST EQUAL 2012 - 416 Perm
1964071024 01/03/1964 TAX LIEN IRS BUNDESEN PAUL & HERBERT (+) U S A INTERNAL REVENUE 2012 - 692 Perm
1964071025 01/03/1964 TAX LIEN IRS RIVERSIDE HATCHERY INC U S A INTERNAL REVENUE 2012 - 694 Perm
Even if there is an IRS lien, the lien is nothing I would have to pay off, right? I would just have to wait the 120 days to get the house in the clear.
Worst case is IRS takes the house and pays me back what I had spent plus some interest.
Is all the above correct?
I have bought a number of properties subject to IRS liens.
Normally, the IRS is mentioned as a defendant in the foreclosure lawsuit and has 120 days to redeem the house and give you your money back. I have never seen this happen. They just let it go.
Each IRS lien is on the property for 10 years. After that, they just seem to let it go. The IRS does not usually refile thir lien.
You are never responsible for this lien....unless it is attached to a property you buy.... Is it?
[addsig]
More than likely there is no lien. I am really just making sure I understand the process.
On a different note, I have seen, and wanted, to bid on some IRS properties. In one case a minimum bid of 20k was need for the IRS to move forward with the foreclosure. The IRS agent I talked with made it sound like, with type, there would be no other liens on the property.
I haven’t found any good sources dealing with how the IRS handles its own forecloses. I know many IRS properties list the liens such as the first mortgage, but this agent made is sound different from those types.
Anyone know about these different types of IRS auctions/foreclosures?
perhaps this is the one you were talking about
http://www.ustreas.gov/auctions/irs/