InnoVest Resource Management's Foreclosure Forum

Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] IRS' Right of Redemption Posted by Ward-CA- on June 10, 2002 at 4:49 PM In Reply to: IRS Tax Lien.....and my Confusion! posted by Jim on June 10, 2002 at 7:49 AM : After a Trustee Sale, what happens to an IRS Tax lien that was recorded against the property AFTER the foreclosing Trust Deed was recorded? Is it wiped off the property? Or does the sale buyer or foreclosing bene still have to deal with the IRS and the 120 day ROR? : Thanks! =•=•=•=•=•=•=•=•=•=•= Jim, The junior IRS lien will be wiped off the title of the property by the foreclosure of the senior lien. Thereafter, IRS may elect to exercise their Right of Redemption during the 120 day period following the auction sale of the senior lien. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : After a Trustee Sale, what happens to an IRS Tax lien that was recorded against the property AFTER the foreclosing Trust Deed was recorded? Is it wiped off the property? Or does the sale buyer or foreclosing bene still have to deal with the IRS and the 120 day ROR? : : Thanks! : =•=•=•=•=•=•=•=•=•=•= : Jim, : The junior IRS lien will be wiped off the title of the property by the foreclosure of the senior lien. Thereafter, IRS may elect to exercise their Right of Redemption during the 120 day period following the auction sale of the senior lien. 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

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2002, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455