Posted by investor_pete on September 22, 2001 at 11:11:10:
Thank you for your information.
tax lien - Posted by investor_pete
Posted by investor_pete on September 21, 2001 at 17:36:36:
Hi everyone! My question is, my partner has a tax lien against him from a previous house. It was there before we formed our corporation. Will this have any affect on our corporation or should I have any worries about this tax lien when I buy houses under our corporation? Thanks for your reply…
Re: tax lien - Posted by JHyre in Ohio
Posted by JHyre in Ohio on September 21, 2001 at 19:25:19:
- Federal tax lien or state?
- If not federal, what kind of tax?
- Is it on a property owned by the corporation?
John Hyre
Re: tax lien - Posted by investor_pete
Posted by investor_pete on September 21, 2001 at 19:58:43:
I think it is a state tax but not sure. it is the property tax that he had tied into his mortgage. When he paid his mortgage he also had to pay 166.00 a month for property tax. But then he lost his house to foreclosure. And the property is not owned by the corporation.
I wouldn’t worry about it… - Posted by Ben (NJ)
Posted by Ben (NJ) on September 21, 2001 at 20:28:05:
this sounds like a municipal property tax lien which only “runs with the land”. I invest in tax liens and here in NJ we have no recourse against the owners of the property only the real estate collateral. Of course this would depend on your state but if he has already lost the property to foreclosure the lien would either have been paid off by the mortgage company (if it was a mortgage foreclosure) or it would have merged into tax title (if it was a tax foreclosure). Either way, unless it was a federal or state tax lien it is unlikely to attach personally or even to other properties he owns.