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
Gilbert Law Summaries on RemediesGilbert Law Summaries on Remedies
by John Bauman, Kenneth York
  • List Price: $42.00
  • Price: $32.73
  • You Save: $9.27 (22%)
from $13.44
Questions and Answers: RemediesQuestions and Answers: Remedies
by Rachel M. Janutis, Tracy A. Thomas
  • List Price: $24.99
  • Price: $22.49
  • You Save: $2.50 (10%)
from $13.04
James E LucasAttorney at LawPRACTICE AREA: Personal Injury, Family Law, Criminal Defense, Military Law & Military Benefits
Peter B WelchAttorney at LawPRACTICE AREA: Family Law, Tax Law, Constitutional Law & Civil Rights, Trusts & Estate Planning, Military Law & Military Benefits
Garrett WozniakAttorney at LawPRACTICE AREA: Litigation, Military Law & Military Benefits
PR Web (press release)In his role as a leader and pioneer in the credit repair business, Doug Parker will present the secrets to his incredible success to attendees of the 2015 Credit Repair Summit. The well-respected owner of RMCN Credit Services is expected to share how ... more »
Daily Business Review (registration)"Even worse, the defendants targeted consumers who were proactively trying to lower their debt and improve their credit." The attorney general's office obtained a temporary injunction Thursday over allegations the businesses provided customers with ... more »
Digital JournalOffering services that range from debt management solutions and credit education to tips on acquiring a mortgage and credit report reviews, Quality Credit Repair employs professionals with over 15 years' experience helping those with poor credit to ... 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