Property Tax Lien

A property tax lien is a measure thorough which the municipality, state or federal government takes control of your property. A property tax lien usually results from a failure to pay taxes. Defaulted tax payments include income tax as well as property tax, excise tax, gift taxes, employment taxes and other forms. A property tax lien means the property is no longer yours. It belongs to the holder of the lien. They can retain it until the debt is paid. The government involved mat make demands for full payment. The debtor may also ask for an receive the chance to reach an agreement to remove the lien. Such an agreement usually involves payment or a payment plan. Sometimes, partial payments are accepted over a period of month. The purpose of the lien is not to punish so much as to make sure the debtor realizes the responsibility integral to property ownership and the government. The placement of a property tax lien will negatively impact your credit score. It is best to work with the government before the process reaches this stage. In doing so, you will avoid the worst aspects of a property tax lien.

Fast Facts

  • New Jersey City, New Jersey in 1993 sold $44 million owed them in delinquent taxes to an investor.
  • In 1996 there were 29 states that had a form of bulk privatization of delinquent tax liens.

property tax lien - Lawyers, Articles and Q&A

Search Results for "property tax lien"

Articles

Results 1-5 of 121 for "property tax lien"

  • County Tax Lien and Lawyer Help

    Many counties in the United States tax real estate in order to help pay for public education and important mun...
    • Site: taxationlawfirms.com
    • 2 of 2 user(s) found this useful
  • Advice and Tips for Investing in Tax Lien Foreclosures

    Tax lien foreclosures are sales of properties that are foreclosed upon by the government as a result of unpaid...
    • Site: foreclosurelawfirms.com
    • 1 of 1 user(s) found this useful
  • Connecticut Mechanics Lien Laws

    The individuals and companies involved in the construction industry in the state of Connecticut should be fami...
    • Site: realestatelawyers.com
  • Alaska Mechanic Lien Laws

    Do you do business in Alaska, either as a subcontractor, prime contractor, tradesperson, or laborer? If so, yo...
    • Site: realestatelawyers.com
    • 2 of 3 user(s) found this useful
  • Hawaii Mechanics Lien Laws

    Contractors, sub contractors, laborers, and materials suppliers should become familiar with Hawaii's Lien Laws...
    • Site: realestatelawyers.com
    • 2 of 2 user(s) found this useful

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From Around the Web

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  • Joint Tenancy Not Great For Asset Protection

    Holding property as joint tenants has numerous advantages.  It can be convenient, and it can generally avoid p...
    • Site: lexblog.com
  • Fraudulent Conveyances

    Asset protection planning generally involves transferring and/or re-titling some or all of your assets in orde...
    • Site: lexblog.com
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