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 mike2913000
Joined: 15 Dec 2008
Posts: 1
1.32 Dollars($)
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 Posted: Mon Dec 15, 2008 3:41 pm Post subject: can I sell my house to payoff the IRS |
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| hello, The IRS says I owe them 80k, I owe 50k for my house the house is worth around 140k to 170k. My question is can i sell the house to my brother in law for 140k and pay them off with the money? please help this has been going on way to long started out at 50k now its up to 80k!!! |
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elnoralittle
Community Experts
Joined: 01 Oct 2008
Posts: 257
Location: Maryland
20.24 Dollars($)
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| Posted: Mon Dec 15, 2008 6:56 pm Post subject: |
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Before you sell your house, I would speak to a lawyer that might be able to negotiate the leins with the IRS as well
_________________
Elnora Little
First Home Mortgage
First in Customer Service!
301-437-5605 |
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jameshogg
Joined: 20 Dec 2005
Posts: 4189
Location: nevada
492.91 Dollars($)
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| Posted: Mon Dec 15, 2008 9:39 pm Post subject: |
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Hi mike,
You can sell off the property to pay off the IRS lien, but I would suggest you to consider Elnora's advice and consult a lawyer.
Thanks |
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parmoney
Joined: 05 Dec 2008
Posts: 37
11.32 Dollars($)
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| Posted: Tue Dec 16, 2008 3:21 pm Post subject: |
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Seek legal counsel!
One thing to point out, if your brother-in-law is trying to finance it, he will have problems. Most banks will view this transaction as a bailout and it does not help that your related (non-arms length transaction). Cash is king in this situation. |
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