Federal Tax Liens - article about Federal Tax Liens

Federal Tax Liens

After the failure to pay owed taxes in any of these or other categories, federal tax liens are imposed on a person’s property until the taxes are paid in full. If the home is sold, the federal tax liens are then inherited by the person or persons who purchase the property. In most cases, this does not happen since real estate researchers are often hired to research the specifics of the property, including whether or not any tax liens are in existence. In some cases, tax liens are mistakenly overlooked and the federal tax liens are transferred from one individual to another through the transfer and sale of the property.

However, with federal tax liens there is a statute of limitations that exists. Tax liens put in place by the federal government after November 6, 1990 become void, or unenforceable, after ten years from the date of the implementation of the federal tax liens has elapsed. Sometimes extensions to the tax liens or various circumstances can affect this statute of limitations on federal tax liens.

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