Updated over 5 years ago on . Most recent reply
Fed Tax Lien subject-to
I got my first deal and super excited however there are several obstacles in my way besides the virus that is locking down all of the government buildings as well as nonessential services within my city, and prohibiting me from filing paperwork on record. There are fed tax liens against the home owner's name and his business. His residential property address is listed in some of the liens. He deeded over the property to me and is aware that he can't make any money from the sell of his house and since the house is facing foreclosure he is just willing to walk away from it all. My question is how can I sell the house with the fed tax liens there? They are in the amount of what the house is worth so satisfying them is not an option if i plan to profit from the transaction. If he deeded over the house then would that mean the liens are only against him and his business, not the house per say? Also the house is a homestead so does that release it from any fed tax lien?
Other information, owes $250k mrtg, arv 440k, fed tax liens about 400k