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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I dunno... Posted by Rick, the Probate Guy on January 30, 2010 at 9:12 AM In Reply to: Re: Info too sketchy... posted by Bill H on January 26, 2010 at 5:05 PM I enjoy your brainteasers, Bill. Here's my best thinking (which is subject to ridicule): IRS lien was junior to foreclosing lender's lien. IRS lien is wiped off due to TSale The max amount that IRS could make a play for on PIQ is the equitable position IRS had prior to the sale, although since they're the IRS they could try for most anything. Henry's position would still be strong in that the IRS would have to make him whole plus interest. However, Henry would be out any other costs (fix up, etc.). Did I miss anything obvious? Follow Ups: Re: I dunno... Bill H 2:33 PM, 01/30/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I enjoy your brainteasers, Bill. : Here's my best thinking (which is subject to ridicule): : IRS lien was junior to foreclosing lender's lien. : IRS lien is wiped off due to TSale : The max amount that IRS could make a play for on PIQ is the equitable position IRS had prior to the sale, although since they're the IRS they could try for most anything. : Henry's position would still be strong in that the IRS would have to make him whole plus interest. However, Henry would be out any other costs (fix up, etc.). : Did I miss anything obvious? [ 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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