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can I sell my house to payoff the IRS

Posted on: 15th Dec, 2008 02:41 pm
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!!!
Before you sell your house, I would speak to a lawyer that might be able to negotiate the leins with the IRS as well
Posted on: 15th Dec, 2008 05:56 pm
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.

Posted on: 15th Dec, 2008 08:39 pm
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.
Posted on: 16th Dec, 2008 02:21 pm
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