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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
But much has changed in the tax lien investing industry, plus I got so many questions about different aspects of investing in tax liens that I decided to update the course again and add more information along with some helpful tools and resources.
In 2010, after First Sentinel recorded the deed of trust, the Internal Revenue Service filed federal tax liens against the property.
Many lenders and factoring companies have banks that prohibit them from funding clients with tax liens. Other lenders prefer not take on additional risk due to future potential claims from the IRS on proceeds that were collected after a Final Notice of Intent was issued.
Seller, Gallatin County Treasurer; buyer, Vicki Hansbrough; Mobile Home Tax Lien.
Matter of Taste Inc., $37,179.07 in federal tax lien filed Aug.
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.
The IRS may file a federal tax lien on a taxpayer's real or personal property under Sec.
The board of tax appeals affirmed the denial, holding that because Sylvania did not own the property as of the tax lien date, the commissioner did not have jurisdiction to consider the exemption application.
As a pre-requisite to closing, the professional should take into consideration open mortgages that have not been properly satisfied of record that show on the report, missing assignment of mortgages, breaks in the chain of title, judgments, federal tax liens, lis pendens and tax liens, to name a few.
Ct., DC DC 1992) held that, because the anti-alienation provisions in a pension plan were "ineffective against Federal tax liens," they were not enforceable against the IlLS under applicable nonbankruptcy law, under Section 541(c) (2).
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.
An important element of tax lien securitization is that a private collector, or servicer, takes over the role of ensuring that delinquent tax revenues are recovered.