tax lien

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Related to tax lien: Tax Lien Certificates

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 ?
Seller, Gallatin County Treasurer; buyer, Vicki Hansbrough; Mobile Home Tax Lien.
A tax buyer invests in tax liens for the above average interest and penalties they can earn on the redemption (or pay off) of the liens.
88 in state Employment Security Department tax lien, filed April 26, 2016, released Oct.
This after the Court of Tax Appeals (CTA) put on hold its resolution of Pacquiao's bid to have the tax liens lifted, until the preliminary hearing into the main tax case shall have been terminated.
According to IRC section 6321, if a taxpayer doesn't pay his or her federal taxes, the IRS can attach a tax lien to any property a taxpayer owns or subsequently acquires.
The tax lien purchaser is much more likely to ensure that future taxes are paid on the property in order to protect the full value of the investment.
Tax lien securitization is accomplished through the creation of a trust which purchases outstanding liens of one or more jurisdictions.
First, the Senate Committee on Finance expressly anticipated the issuance of regulations deeming economic performance to occur in respect of state and local property taxes "at the time the tax lien attaches or the time the tax is assessed.
com will be hosting a groundbreaking free training on tax lien investing about the "3 Secrets That Will Explode Your Profits From Tax Liens.
A tax lien is a legal claim filed in court by a government agency against a person or business owing taxes.