tax lien

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Tax lien

The right of the government to enforce a claim against the property of a person owing taxes.

Tax Lien

A claim on private property by a government that allows that government to take over and sell the property until it recovers what its owner owes in taxes. That is, if a taxpayer does not pay the appropriate amount in taxes and steadfastly refuses to do so, the government has the right to confiscate and sell his/her property until it takes in what the taxpayer owes. An investor may buy a tax lien from the government.

tax lien

(1) A statutory claim on specific real property for ad valorem or other property taxes; the lien is automatic and nothing regarding a particular property needs to be filed.The tax lien has priority over all other liens—even a mortgage filed before the taxes became due.(2) A claim on all real property of a taxpayer within a certain geographical area, usually a county or parish, because of unpaid federal or state taxes. The lien attaches when the lien documents are filed with the local recording office,and not before.Even though an IRS lien does not take priority over a prior-recorded mortgage,a mortgage lender who fails to give proper foreclosure notice to the IRS may find the property still subject to the lien,even after foreclosure.

References in periodicals archive ?
Investing in Secondary Market Tax liens could result in amazing profits from redemption, selling the house as is, selling the house for more after a fix-and-flip, and more.
88 in state Employment Security Department tax lien, filed April 26, 2016, released Oct.
Petitioner's motion to lift notices of tax lien annotated on properties registered in the name of petitioners is held in abeyance until the termination of the preliminary hearing,' the tax court said.
The district court, however, sided with the IRS and ruled the tax liens were valid and Rohn's disclaimer was fraudulent.
Municipalities look for swift answers to this problem in order to meet the needs of the taxpayers they serve, and for many, the answer has become increasingly clear--privatization of delinquent tax liens.
The sale of tax liens has proven beneficial for governments that are able to use this approach.
com will be hosting a discussion with Charles Sells of PIP Group about the incredible opportunity to invest in pre-deed tax lien properties.
This after the Court of Tax Appeals (CTA) has put on hold the resolution on Pacquiao's bid to lift the tax liens until the termination of preliminary hearing on the main case.
We couldn't reach Beard for comment, and we're not sure what she does or what caused the tax liens.
First Hallmark Mortgage Corporation has created a program to help homeowners pay off municipal tax liens through mortgage refinancing, announced Bruno Viscariello, president of First Hallmark.