Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Anyone know what I can do to get rid of a tax lien that is not mine?
A title search was not done because it was transferred from a relative and now the IRS lien is at $190,000.
Wow, had no idea your county is such a seat of wheeling and dealing in tax liens. Their sale to a private person can result in high interest rates, whatever is allowed in your state. Don't know that limit. If you have been in the house some time and never heard about this from the govt. it may be that they pursued it unsuccesffuly with your relative and that now it has been bought by a private person to collect. Yes, they are sold, popular in some areas more than in others; the govt. is paid; and sometimes the investor pays even more than the lien amt because he's going to collect still more in the end. It will then be collected at high interest rates according to state law.
You can contact the government, if they still truly hold it, and arrange for payments.
If the relative died, taxes should have been paid out of his estate and you should contact the attorney who handled the estate.
Now "you" owe $190k or the IRS is going to take the property away from you in the near future and auction it off. You should talk to a tax professional on how to work a payment deal with the IRS. You cant "get rid of" a federal tax lien. Its attached to the property. Depending on how much its worth, you may be able to get a mortgage on it.
If the property is worth less than $190k and you cant work a deal with the IRS, your relative essentially gave you nothing. Zero value. Let them take it.
Now "you" owe $190k or the IRS is going to take the property away from you in the near future and auction it off. You should talk to a tax professional on how to work a payment deal with the IRS. You cant "get rid of" a federal tax lien. Its attached to the property. Depending on how much its worth, you may be able to get a mortgage on it.
If the property is worth less than $190k and you cant work a deal with the IRS, your relative essentially gave you nothing. Zero value. Let them take it.
Is there still a mortgage on the property too?
Wrong. Tax lien on property = NO MORTGAGE. Period. Do not stop at go.
Wrong. Tax lien on property = NO MORTGAGE. Period. Do not stop at go.
HUH?? That's not correct. A tax lien may take precedence over a mortgage...but a mortgaged property can still have a tax lien placed upon it. And merely placing a tax lien on a property doesn't automatically wipe out a mortgage. (And prior recorded mortgages are still superior to some tax liens.)
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
