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Updated over 5 years ago on . Most recent reply
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IRS tax lien expiration time period
If IRS has a senior lien on a foreclosure property (New Mexico) or property tax sale, how often does one create clean title. I assume quiet title suit, how often does IRS contest or attach its lien to the property?
How often is the 10 IRS statue of limitations actually refiled/increased so that the time period is greater than 10 years?
How often does the IRS foreclose their lien, if ever?
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Originally posted by @Chris Seveney:
@Alex Leonard
Too many questions with not enough information. Typically with an IRS lien and it gets foreclosed upon the IRS May remove the lien if the mortgage / amount owed is more than the property is worth. In order to confirm this there is a lot of paperwork to be completed and an appraisal needs to be done.
how did the IRS lien become senior to the loan.. that would be quite rare IE a lender making a loan junior to the IRS.
if it fact the foreclosing loan is senior which is the case 99% of the time.. IRS lien sunsets in 120 to 180 days cant recall its one or the other I have never had the IRS redeem and i have bought A LOT of foreclosures with IRS liens i actually target them as i know most wont bid on them out of fear or they need to secure up a loan ASAP and dont have the ability to have there cash sit out there that long.
- Jay Hinrichs
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