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Updated almost 10 years ago,

User Stats

21
Posts
5
Votes
Neha Wadhwani
  • Round Rock, TX
5
Votes |
21
Posts

Trustee Sale - IRS lien on previous owner

Neha Wadhwani
  • Round Rock, TX
Posted

I am considering a property being auctioned at a Trustee sale in Texas. Current owner is a bank. However, I noticed that the previous owner has a $20k IRS lien on him. The IRS lien clearly states its a claim on all his property, but is not specifically attached to the subject property being auctioned. 

If I buy it, will I get title insurance? If Not, then do I have to go through a quitclaim process or negotiate/pay off the IRS lien to get the release? Which would be cheaper from an attorney costs perspective? Thanks in advance

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