If the IRS has placed a Federal Tax Lien on your property they have first right to the value (equity) of the asset. Some taxpayers can quality for a Subordination Agreement. This allows another entity (bank, mortgage company, etc.) to move into the place of the IRS. This may allow you to sell or transfer the property.
“Subordination” does not remove the lien, but allows other creditors to move ahead of the IRS, which may make it easier to get a loan or mortgage.
A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property and financial assets.
Employees and agents of the Internal Revenue Service are required to assist you in resolving your tax matters. They may not however always resolve these matters in your best interest. It is critical that taxpayers understand their rights and the law when dealing with the IRS. Always consult a tax professional before dealing with them in this type of matter.
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The post HOW TO SELL YOUR HOME WITH FEDERAL TAX LIEN first appeared on How To Profit With Tax Lien Certificates.
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