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Updated about 13 years ago,
Does a lien ever prevent a sale?
Are there any liens that would prevent someone from selling a property? I know property tax liens stay with the property. What about mortgages? Can you sell a property with a 50k mortgage for 1,000$ dollars and not satisfy the mortgage just quit claim it to a new buyer? What would happen in this case? I am looking at a rental property that is dirt cheap but has mortgages on it from 2002 that are in the 50k range. Owner filed bankruptcy a year ago but they are still showing. I am thinking about taking a gamble on this property and taking it with the liens. Are there any other liens that would prevent transfer of deed to a new owner? Federal IRS liens maybe?