Posted on: 21st Jul, 2011 07:26 pm
There was a IRS tax foreclosure on this property for which I paid about $38,000 for taxes. $12,000 more paid to the old owner. After 10 months the old owner is asking me to sign a contract for $500,000. The Deed in lieu has been recorded because I had become aware of another tax lien
against the property which was information from IRS. I have
been sending the old owned money every month to help them.
against the property which was information from IRS. I have
been sending the old owned money every month to help them.
hi adgibson!
welcome to forums!
a deed in lieu of foreclosure will not help you in transferring the property. it will help you in getting rid of the property if you're unable to pay off the debt. however, the lender will have to agree to the request for a deed in lieu of foreclosure.
sussane
welcome to forums!
a deed in lieu of foreclosure will not help you in transferring the property. it will help you in getting rid of the property if you're unable to pay off the debt. however, the lender will have to agree to the request for a deed in lieu of foreclosure.
sussane
The person whom owed IRS used the DIL to transfer property to me in exchange for paying taxes. It is I who received the DIL from him before I paid all of the taxes. I filed the DIL with Land Management once notary was all in place. Are you saying that someone can use the DIL to get rid of property but the person who receives the DIL cannot file it for the perpose for which it is intened? The notarization of this document shows that it was agreed upon, and Land Management would not have allowed the filing of it. I would be considered the lender, and by filing it would not that mean that I also agreed?
Please help me to understand what you are saying.
Please help me to understand what you are saying.
You need to contact a real estate attorney and discuss your case with him. He will help you in resolving the matter.