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Updated over 8 years ago on . Most recent reply

Account Closed
  • Chesapeake, VA
0
Votes |
6
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Due diligence - income tax lien

Account Closed
  • Chesapeake, VA
Posted

Hello Note community

I am doing some initial due diligence on a deal and discovered that a borrower has a state income tax lien against their personal property of $11K. Has anyone had experience with this? If I were to buy this note and have to foreclose, should I assume that I would be liable for the income tax lien or does that stay with the borrower?

Thanks!

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