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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] How often does the IRS redeem after auction? Posted by Sara_CA on April 11, 2009 at 1:53 AM In Reply to: expiration of California FTB lien posted by Dond on April 10, 2009 at 9:25 AM After the trustee sale, or county tax sale, the IRS has 120 days to redeem the property from the purchaser. The expiration date on the face of the IRS lien does not apply after the sale. Not sure about the California FTB lien. Now, the follow up question is: How often does the IRS exercise their lien rights and redeem the property? Should we take a chance hoping that the 120 days laps? Thanks. ==================================================================== : I am looking at a property for which there are both a California Franchise Tax Board lien and an IRS lien. Both are substantial, and both are senior to the florclosing TD. : I know that, assuming I am the successful bidder at the Trustees Sale, I can try to negotiate a reduced amount to pay off on each of the remaining senior liens. Another possibility is to use the property as a rental and wait for each of the senior liens to expire. : The face of the IRS lien states that it expires in 2015, unless it is renewed before then. There is no such statement on the FTB lien. : Does anyone know whether FTB liens have an automatic expiration date? Follow Ups: Re: How often does the IRS redeem after auction? Bill H 10:36 AM, 04/11/09 (0) Not very often... Rick, the Probate Guy 9:08 AM, 04/11/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : After the trustee sale, or county tax sale, the IRS has 120 days to redeem the property from the purchaser. The expiration date on the face of the IRS lien does not apply after the sale. Not sure about the California FTB lien. Now, the follow up question is: : How often does the IRS exercise their lien rights and redeem the property? Should we take a chance hoping that the 120 days laps? : Thanks. : ==================================================================== : : I am looking at a property for which there are both a California Franchise Tax Board lien and an IRS lien. Both are substantial, and both are senior to the florclosing TD. : : I know that, assuming I am the successful bidder at the Trustees Sale, I can try to negotiate a reduced amount to pay off on each of the remaining senior liens. Another possibility is to use the property as a rental and wait for each of the senior liens to expire. : : The face of the IRS lien states that it expires in 2015, unless it is renewed before then. There is no such statement on the FTB lien. : : Does anyone know whether FTB liens have an automatic expiration date? [ 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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