InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Wiped off, not wiped out! Posted by Ward-CA- on July 08, 2003 at 4:50 PM In Reply to: What happens to a junior CA income tax lien after auction? posted by David F on July 08, 2003 at 12:02 AM : Ward, : I believe you've said in the past that a CA income tax lien junior to the foreclosing Trust Deed gets wiped out at a foreclosure auction. Does the state of California have right of redemption like the IRS? If so, for how long do they have this right? : What about a mechanic's lien? What about a hospital lien? If these are junior to the foreclosing Trust Deed, do these get wiped out too? : Thanks! =•=•=•=•=•=•=•=•=•=•= David, Almost all junior liens get wiped off the title of the property in foreclosure—not wiped out. So the CA income tax lien still exists against the delinquent tax payer after the trustee’s sale, it’s just not secured by foreclosed property any more. No right of redemption emanates from a CA trustee’s sale in favor of anyone, except for IRS. Again, all junior liens get wiped off the title to the subject property in foreclosure but remain attached to the name of the delinquent debtor. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : I believe you've said in the past that a CA income tax lien junior to the foreclosing Trust Deed gets wiped out at a foreclosure auction. Does the state of California have right of redemption like the IRS? If so, for how long do they have this right? : : What about a mechanic's lien? What about a hospital lien? If these are junior to the foreclosing Trust Deed, do these get wiped out too? : : Thanks! : =•=•=•=•=•=•=•=•=•=•= : David, : Almost all junior liens get wiped off the title of the property in foreclosure—not wiped out. So the CA income tax lien still exists against the delinquent tax payer after the trustee’s sale, it’s just not secured by foreclosed property any more. : No right of redemption emanates from a CA trustee’s sale in favor of anyone, except for IRS. : Again, all junior liens get wiped off the title to the subject property in foreclosure but remain attached to the name of the delinquent debtor. 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 © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

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