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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Right of redemption at an IRS tax lien sale. Posted by Ward-CA- on May 10, 2002 at 7:37 PM In Reply to: irs right of redemption posted by todd-wa on May 10, 2002 at 2:16 PM : Ward, : could one buy a junior lien that was wiped off at the sale and then exercise the right of redemption? : (1) Period. - The owners of any real property sold as provided in Section 6335, their heirs, executors, or administrators, or any person having any interest therein, or a lien thereon, or any person in their behalf, shall be permitted to redeem the property sold, or any particular tract of such property at any time within 180 days after the sale thereof. : thanks =¥=¥=¥=¥=¥=¥=¥=¥=¥=¥= Todd, IRS has two types of forced sales. One is an IRS Lien Sale where IRS instigates the forced sale, rather than a lender, thereby setting up a Right of Redemption from the highest bidder at the tax lien sale by the owner and any other party adversely affected by the sale, for a post-sale period of 180 days. I don't think you would need to buy the junior lien, rather just buy their right of redemption. I'm sure the revenue agent in control of such a sale would be able to give you more precise details as to when and how you'd do such a transaction. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : could one buy a junior lien that was wiped off at the sale and then exercise the right of redemption? : : (1) Period. - The owners of any real property sold as provided in Section 6335, their heirs, executors, or administrators, or any person having any interest therein, or a lien thereon, or any person in their behalf, shall be permitted to redeem the property sold, or any particular tract of such property at any time within 180 days after the sale thereof. : : thanks : =¥=¥=¥=¥=¥=¥=¥=¥=¥=¥= : Todd, : IRS has two types of forced sales. One is an IRS Lien Sale where IRS instigates the forced sale, rather than a lender, thereby setting up a Right of Redemption from the highest bidder at the tax lien sale by the owner and any other party adversely affected by the sale, for a post-sale period of 180 days. : I don't think you would need to buy the junior lien, rather just buy their right of redemption. I'm sure the revenue agent in control of such a sale would be able to give you more precise details as to when and how you'd do such a transaction. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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