Hello I would like to know if anyone has filed for a Release of Lien using the 10 year statue of limitations and if so how long does it take to file
Filed with who? If with the irs, they would simply renew. I believe the title co. looks at an expired lien as removed simply by “operation of law”.....just like a mtg being eliminated after a foreclosure, there is no subsequent release/cancelation of the mtg recorded.
Thanks Wayne the filing would be to the IRS I see they have all the forms on the website the title company said that the liens would have to removed before moving forward.
@Wayne Brooks is right. 10 years + 1 day and the lien expires by law (also according to the terms stated on its face) unless earlier renewed. No need to file anything or wake a sleeping creditor. Find a title company who knows what they are doing ... you'll have better results.
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