Legal definition of Tax Liens
Credit Repair Legal Terminology

Tax Liens

If an owner of a house defaulted on payment of real estate taxes a lien may be placed on the property to secure payment of taxes. A tax lien may be placed for non payment of federal, as well as state taxes.
If there is a federal tax lien on your home, you must satisfy the lien before you can sell or refinance your home. There are a number of options to satisfy the tax lien. Normally, if you have equity in your property, the tax lien is paid (in part or in whole depending on the equity) out of the sales proceeds at the time of closing. If the home is being sold for less than the lien amount, the taxpayer can request the IRS discharge the lien to allow for the completion of the sale. Taxpayers or lenders also can ask that a federal tax lien be made secondary to the lending institution's lien to allow for the refinancing or restructuring of a mortgage. Source:
Find a legal term by clicking on the first letter of a legal word or phrase:
Book of the Day in our Store
Share it on TwitterFacebook
NFPA 70®: National Electrical Code® (NEC®), 2011 EditionNFPA 70®: National Electrical Code® (NEC®), 2011 Edition
by (NFPA) National Fire Protection Association
from $62.98
The Tech Contracts Handbook: Cloud Computing Agreements, Software Licenses, and Other IT Contracts for Lawyers and BusinesspeopleThe Tech Contracts Handbook: Cloud Computing Agreements, Software Licenses, and Other IT Contracts for Lawyers and Businesspeople
by David W. Tollen
  • List Price: $39.95
  • Price: $21.73
  • You Save: $18.22 (46%)
from $24.54
Adam S BaronAttorney at LawPRACTICE AREA: Personal Injury, Family Law, Litigation, Workers Compensation
Richard L MooreAttorney at LawPRACTICE AREA: Professional Malpractice, Business Law, Labor & Employment Law, Workers Compensation
Andrew B CooperAttorney at LawPRACTICE AREA: Personal Injury, Professional Malpractice, Labor & Employment Law, Insurance Litigation, Litigation, Workers Compensation
ForbesCredit repair strategies are everywhere; many are legitimate with real results, some maybe not so much. But there are some legitimate do-it-yourself credit repair strategies that you can do today that will have an immediate impact on your credit profile. more » News (blog)If you're considering buying a new home — regardless of where you live or how old you are — it's important to shore up your credit before applying for a mortgage. That's because it's going to play a major role in whether you can actually get a ... more »
NasdaqKnowing your credit score is definitely a precursor to improving your business. There's a whole lot of information on the internet that can guide you and make things clearer for you. You can get more information and reviews on However ... more »
It's a free online legal dictionary search engine for definitions of legal terminology and legal words, legal abbreviations, and legal jargon you may meet when reading legal acts, law books, documents, legal forms and other legal content