IRS Auctions???
I am interested in a tax deed property but it has IRS liens on it. Does the IRS auction these liens off or how are they ever satisfied if the original owner can not???Thanks
I am interested in a tax deed property but it has IRS liens on it. Does the IRS auction these liens off or how are they ever satisfied if the original owner can not???Thanks
More information is needed just because the IRS has a lien on a house means there going to auction it off they may leave the lien on till all avenues are exhausted i.e. IRS is not in the real estate business they would rather have someones money most people dont know that they can make a offer for less then what is owed to the IRS for a settlement. Now if the IRS has exhusted all avenues with the tax payer with not getting any money they can and will foreclose on it and auction it off. This has been my experience.
chrisandjenny2003------------
Are you interested in properties for sale for delinquent ad valorum property taxes? It is confusing trying to translate what you have written.
If so, provided that the taxing entity conducting the tax sale has notified the IRS of the upcoming sale, the IRS lien will remain on the property after the sale. But, only for the IRS to redeem the property from the buyer at the tax sale. This right of redemption expires after 120 days, after which the IRS lien is no long enforceable against the property or the property's owner after that date. Should the IRS not be notified of the sale, their lien remains on the property as a senior lien. Ask the people who will conduct the tax auction if they have notified the IRS about the sale of items with IRS liens against them.
Good Investing************Ron Starr*********
Mr. Ronald Starr, and any other experts,
Along the lines of the above posts, I have located a prime piece of commercial property with a large Fed. tax lien on it. The owner died 2 yrs. ago. No other names on deed. Son tried to sell it, but could not without his name on deed. Son does not want to bother going to court to try & get the property.
IF the IRS was notified about the sale, and they do not redeem, will it then be clear? Also, same man owned another nice property, but search shows it has no liens. Is the Fed. tax lien automatically attached to any property he owned? My local atty. could not help.
About $4000.00 owed on taxes. Property appraised at $400.000.00. Thanks in advance for any advice. Rick
perhaps you can hire the attorney and do all of the necessary paperwork for the probate . of course you will have a contract with the son that he will sell to you at a predetermined price once everything is resolved. he may go for that especially if you do all the work..all he has to do is sign. time to use your persuasion skills. [ Edited by lp1 on Date 08/03/2004 ]
Rick, If the owner died my question would be was there a will and who was the property willed to? If there was no will then you will have to findout who became the exective of the will. With that information you can buy that property and satisfy the lien.