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foresale
Guest
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 Posted: Mon Nov 06, 2006 11:24 am Post subject: Can I get tax lien redemption on foreclosed property? |
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| If I purchase a property from foreclosure sale and the title for the property is conveyed by the trustee in my name, can the IRS deliver me a tax lien redemption check after six months for its recorded lien against this property. Is there any time limit within which any such tax lien redemption should be completed. |
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Branca
Guest
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| Posted: Mon Nov 06, 2006 1:32 pm Post subject: |
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Hi,
According to the federal laws, redemption of IRS tax lien should be done within 120 days of a foreclosure sale. |
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 colin
Moderator
Joined: 30 Jun 2006
Posts: 602
Location: Waltham, Massachusetts
112.65 Dollars($)
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| Posted: Mon Nov 06, 2006 1:48 pm Post subject: |
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Hi,
Let me add that the sale date is taken to be the date on which public auction takes place.
It has been six months so the IRS will not be able to redeem and you should file a lawsuit for quiet title for cancellation of the IRS lien.
Thanks
Colin |
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helping_user
Joined: 31 Mar 2006
Posts: 815
Location: Hawaii
154.76 Dollars($)
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| Posted: Mon Nov 06, 2006 10:35 pm Post subject: RE: Release of tax lien |
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Hi Guest,
As far as I know, redemption is a right given to the delinquent tax payer (in your case, the seller of the property) by which he can save his property from foreclosure sale by paying off the taxes due along with the interest stated on the tax lien certificate. But the property you have purchased has already been through foreclosure. So, the redemption is not applicable in your case; rather if you can pay off the property taxes due, you will be able to remove the tax lien from the property. In that case, the IRS may issue a Certificate of Release of Federal Tax Lien.
Thanks |
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