Posted on: 02nd Sep, 2009 09:36 pm
hi joshua -
i have inherited my aunts property which the mortgage was fully paid on through a quit claim deed with two other people also on the deed. i have a federal tax lien that shows on my credit report from back in 2003. how do i know if this lien shows up on the title? if the lien is on the title will they take the amount that shows on my credit report for the lien or will they reaccess and take more possibly? lastly, will this affect the sale of the property or hold things up on the sale?
i have inherited my aunts property which the mortgage was fully paid on through a quit claim deed with two other people also on the deed. i have a federal tax lien that shows on my credit report from back in 2003. how do i know if this lien shows up on the title? if the lien is on the title will they take the amount that shows on my credit report for the lien or will they reaccess and take more possibly? lastly, will this affect the sale of the property or hold things up on the sale?
Hi jodyk,
Is the federal tax lien attached to the property that you inherited from your aunt? If that's the case, then I don't think it should appear on your credit report as your aunt may have defaulted on the tax payments. However, now as you've inherited the property, you would be liable to pay off the tax lien. A tax lien may hold up things for the sale of the property. You need to clear it off and get a lien release certificate and then sell off the property.
Take care.
Is the federal tax lien attached to the property that you inherited from your aunt? If that's the case, then I don't think it should appear on your credit report as your aunt may have defaulted on the tax payments. However, now as you've inherited the property, you would be liable to pay off the tax lien. A tax lien may hold up things for the sale of the property. You need to clear it off and get a lien release certificate and then sell off the property.
Take care.
I do not know if the tax lien has attached to the house or not. I owe federal taxes personally. In 2003 it appeared on my credit report - Federal Tax Lien - Hennepin County Court. I live in Minnesota. In January of this year I inherited the house with 2 others through a quit claim deed. I do not understand the processes, therefore am not sure if once the deed or title transferred into our names - would they have found that I have a tax lien and attach it to the house??
I thought that you can still sell the house and the title company will cut a check for the lien to the feds and the remainder to us???
I thought that you can still sell the house and the title company will cut a check for the lien to the feds and the remainder to us???
the government (irs) undoubtedly doesn't know yet that you are now an owner of this real estate. if and when they learn of it, they could certainly file a lien.
