A lien is the right to retain possession of property until a debt due to the person detaining the property is satisfied. An IRS tax lien is when the IRS places a lien on the property until arrangements have been made to pay the taxes owed the federal government. The lien claimant in this case is the IRS. They are also the lien holder. An IRS lien often entails the personal property of the person owing the taxes. The owner is required to meet the demands of the lien holder in order to redeem the property. In the case of real property, there is a statutory period of redemption. This is a set period of time in which the individual owing taxes can pay back the amount of taxes. If the owner does so, the IRS tax lien disappears. The property reverts back to the pre-lien owner. In some instances, the IRS tax lien may be removed in if terms of repayment are negotiated. Usually, however, an IRS tax lien is put into action only after the time for sensible negotiation has gone past. It is best to consult an IRS tax lawyer to find a way out of your tax problem. If you do not manage to do so, you will lose the property. There is also the chance during this period, that the IRS may sell the lien to a private party.