Posted on: 01st Mar, 2009 01:39 pm
I own fifty percent of a home. The other two parties have tax liens on the property, my brother and sister. I want to sell the house that I live in, I do not know where my brother is nor my sister. How do I go about selling the property. My sister sends me e-mails always threating me to charge me rent or throw me out. Please help
Hi adventurer!
Welcome to forums!
As there is a tax lien on the property, it will be difficult for you to sell the property until the lien is paid off. Moreover, in order to sell the property, you will require the signatures of your brother and sister.
However, you can try for a partition lawsuit. If you file this lawsuit, the court may order the sale of the property. The amount received from the sale will be used to pay off the mortgage and tax lien. If there is any excess amount, then it will be divided amongst the three of you.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As there is a tax lien on the property, it will be difficult for you to sell the property until the lien is paid off. Moreover, in order to sell the property, you will require the signatures of your brother and sister.
However, you can try for a partition lawsuit. If you file this lawsuit, the court may order the sale of the property. The amount received from the sale will be used to pay off the mortgage and tax lien. If there is any excess amount, then it will be divided amongst the three of you.
Feel free to ask if you have further queries.
Sussane
I have no morgage on the property. I was thinking about buying the house out right. Should I hire a realtor or an attorney to buy my sister and brother out. I keep the home in good standings as far as all taxes and so forth. No help from them in three years.
You can definitely buy them out but in that case you will be liable to pay off the tax lien on the property. You can contact an attorney and he/she will tell you what steps you need to take in order to buy them out.
we have a tax lein on our property can we sell it
Hi Guest,
Tax liens are first priority liens. You need to pay off the tax liens before selling the property. The lien remains on your property till the time it is paid off in full. As long as the lien remains there, you will have difficulty in selling off the property or refinancing it. If you do not have enough money to pay off the lien immediately, you can set up a repayment plan with the IRS and pay off the lien in installments.
Tax liens are first priority liens. You need to pay off the tax liens before selling the property. The lien remains on your property till the time it is paid off in full. As long as the lien remains there, you will have difficulty in selling off the property or refinancing it. If you do not have enough money to pay off the lien immediately, you can set up a repayment plan with the IRS and pay off the lien in installments.