Posted on: 06th Nov, 2006 10:24 am
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.
Hi,
According to the federal laws, redemption of IRS tax lien should be done within 120 days of a foreclosure sale.
According to the federal laws, redemption of IRS tax lien should be done within 120 days of a foreclosure sale.
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
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
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
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