Apply a little common sense and I think you can answer you own question.
If she/you redeem it…it goes back to the original status…why would the liens/judgments, etc fall off. If this were the case everybody would let their property go into foreclosure and then redeem it and wipe out all the junior liens and judgments.
(Iowa) I have an opportunity to purchase a SFR from a woman who’s house went to Sheriff Sale recently.
She has a 6 month redemption (3 mos remain). She has an IRS lien and a few small judgments. Her “redemption rights” are transferable! If I/my LLC is the transferee, do I avoid those liens and judgments???
I’m having a hard time finding any atty. or ANYONE that knows. THANKS!
Jason in Iowa.
Re: Redeeming property w/liens AFTER Sheriff Sale - Posted by Brian (UT)
Posted by Brian (UT) on January 26, 2006 at 09:45:59:
Jason
Bill H is absolutely right, however this is a time period where you can sometimes get these wiped out liens to discount, etc.
Plus you said an IRS lien that means they have 120 days to do something and if there is that much profit they probably would, you don’t mention any figures so they may agree to get something instead of nothing.