Re: Hey banks! Isn't some monthly payment better than none?
Posted by steele in minnesota on October 25, 2008 at 23:07:39:
In Reply to: Re: Hey banks! Isn't some monthly payment better than none?
Posted by cmc on October 25, 2008 at 20:04:42: No, I am not saying the buyer at auction must pay the lien. Rather that the IRS usually gets special notice on the sale so that they can collect part or all. How they do it, I am not completely sure. That's why the recommendation of talking to an attorney familiar with federal tax liens.
There was a case cited on a legal forum I belong to (I am not an attorney) where a property was up for auction and it was found at the last minute that the IRS had not received proper notice. Although the sale had just taken place the auction was declared null and void.
It seems the IRS has some extra power in this situation and I would want to know just how much.
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