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Updated over 16 years ago on . Most recent reply

User Stats

212
Posts
14
Votes
Mitch Freed
  • Property Manager
  • Portland, OR
14
Votes |
212
Posts

IRS Foreclosure: Seizure and Sale

Mitch Freed
  • Property Manager
  • Portland, OR
Posted

Anybody have any experience with an IRS Public Auction where the IRS is auctioning off the right, title and interest of the Taxpayer in and to the property?

This particular sale has a 180 day redemption period I cannot get a straight answer from the IRS about the taxpayers access and posession right to the property after the sale. If I am the successful bidder, can I evict the taxpayer or the taxpayers tenant (if the property is rented) ??

Also, what happens if the taxpayer files bankruptcy during the redemption period?

I do know that if the property is redeemed by the taxpayer then they have to pay the successful bidder the full amount of the bid plus 20 percent annually from the date of payment.

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