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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: General liens vs specific liens Posted by Ward-CA- on August 28, 2001 at 7:14 PM In Reply to: Tax Liens posted by Troy on August 28, 2001 at 2:19 PM : Ward, : When a person doesn't pay his/her income taxes and the IRS slaps a lien against the property, what happens to this lien when I acquire the property from the owner directly? : I remember you teaching in one of your seminars that some type of lien is "wiped off" but not "wiped out" when a property is purchased at the Trustee Sale. In the situation above, would the IRS just pursue the person who owed the taxes, even though the property was not purchased at a Trustee Sale? : Are there any other types of liens (property taxes) that don't follow the "person", but actually stay on the property's title? =•=•=•=•=•=•=•=•=•=•=•=•= Troy, recorded general liens, like IRS liens, judgments, etc. are automatically secured by any real property that’s in the name of the debtor, in the county where the general liens are recorded. And they will automatically attach to any other property that’s subsequently recorded in the debtor’s name in that same county. And like all liens, they will remain against the title of the burdened property regardless of who else might become the owner of the property, until they are either paid or wiped off title by the foreclosure action of a senior lien or go stale after 10 years, unless renewed beforehand by the creditor. Voluntary liens, like mortgages and trust deeds, don’t automatically attach to other properties in the county that are owned by the debtor, like general liens do. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : When a person doesn't pay his/her income taxes and the IRS slaps a lien against the property, what happens to this lien when I acquire the property from the owner directly? : : I remember you teaching in one of your seminars that some type of lien is "wiped off" but not "wiped out" when a property is purchased at the Trustee Sale. In the situation above, would the IRS just pursue the person who owed the taxes, even though the property was not purchased at a Trustee Sale? : : Are there any other types of liens (property taxes) that don't follow the "person", but actually stay on the property's title? : =•=•=•=•=•=•=•=•=•=•=•=•= : Troy, recorded general liens, like IRS liens, judgments, etc. are automatically secured by any real property that’s in the name of the debtor, in the county where the general liens are recorded. And they will automatically attach to any other property that’s subsequently recorded in the debtor’s name in that same county. And like all liens, they will remain against the title of the burdened property regardless of who else might become the owner of the property, until they are either paid or wiped off title by the foreclosure action of a senior lien or go stale after 10 years, unless renewed beforehand by the creditor. : Voluntary liens, like mortgages and trust deeds, don’t automatically attach to other properties in the county that are owned by the debtor, like general liens do. 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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