Tax Lien Foreclosure

Filed Under » ,
Dictionary Says

Definition of 'Tax Lien Foreclosure'

The sale of a property resulting from the property owner's failure to pay tax liabilities. A tax lien foreclosure occurs when the property owner has not paid the required taxes, including property taxes and federal and state income taxes. A statutory lien is first placed against the property of the person who has failed to pay taxes. The government that is owed the taxes (for example, the federal government in the case of unpaid federal income, self-employment, gift or estate taxes) will move to repossess the property in an attempt to recover the debt.
Investopedia Says

Investopedia explains 'Tax Lien Foreclosure'

Properties that are foreclosed due to nonpayment of taxes are deemed tax lien foreclosures. Tax liens can be specific liens against specific property, such as with property taxes and special assessment liens. Tax liens may also be general liens against all property of the defaulting taxpayer, such as with federal or state income tax liens. Tax laws prevent the the former resident of the property (who failed to pay taxes) from bidding at the auction.
Search results for

'Tax Lien Foreclosure'

  • Should You Buy A House At Auction?

    http://www.investopedia.com/articles/mortgages-real-estate/10/should-you-buy-at-an-auction.asp
    ... The two main types of property auctions are foreclosure auctions and tax lien auctions.
    Before a property reaches auction, several things have to happen. ...

  • 7 Unusual Property Ownership Rules - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0711/7-Unusual-Property-Ownership-Rules.aspx
    ... In the United States, property auctions are only common among foreclosure and tax
    lien sales, and bidders are primarily professional real estate investors. ...

  • Your Kid's College Loan: Who Should Foot The Bill?

    http://www.investopedia.com/articles/pf/10/federal-student-loans.asp
    ... 90-day delinquency on any debt or be within five years of "a default determination,
    bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment ...

  • Equity Stripping Leaves Creditors Empty-Handed

    http://www.investopedia.com/articles/mortgages-real-estate/09/equity-stripping-assets.asp
    ... Loans To reduce the risk of foreclosure, some owners ... it may not have an outstanding
    lien on it ... distributions from the manager but incur tax liabilities, which ...

Related Articles

Bank Rates
Product Today Last Wk
$10K MMA 0.50% 0.51%
MMA 0.45% 0.46%
6 Month CD 0.46% 0.47%
1 Year CD 0.70% 0.75%
5 Year CD 1.46% 1.46%
1 Year Jumbo CD 0.66% 0.67%
Rate data provided by Bankrate
Product Today Last Wk
$30K HELOC 4.59% 4.60%
$30K Home Equity Loan 5.74% 5.77%
$50K Home Equity Loan 5.45% 5.50%
$50K HELOC 4.24% 4.24%
$100K Home Equity Loan 5.41% 5.46%
$100K HELOC 4.13% 4.13%
Rate data provided by Bankrate
Product Today Last Wk
30 Year Fixed 3.80% 3.80%
15 Year Fixed 3.09% 3.11%
1 Year ARM 3.54% 3.53%
30 Year Fixed Jumbo 4.38% 4.38%
5/1 ARM 2.65% 2.69%
3/1 ARM 2.69% 2.69%
Rate data provided by Bankrate
Product Today Last Wk
60 Month Used Car Loan 4.51% 4.51%
48 Month Used Car Loan 4.35% 4.35%
48 Month New Car Loan 3.24% 3.24%
36 Month Used Car Loan 4.34% 4.36%
36 Month New Car Loan 3.11% 3.13%
60 Month New Car Loan 3.35% 3.34%
Rate data provided by Bankrate
Partner Links