I sold my home and found out it have a IRS lien, it go through title & mortgage co. Who is libel?
What should I do about new owners. I did not find out in the region of the lien until after the sale. Will the IRS transfer it to me or will they receive the title company pay it?
Answers:
Wow. Typically when you provide a home you have the intent to transfer "clear" title. Title insurance is near to protect the buyer from liens discovered after the fact and to also assure clear title.
I would contact your agent and a real estate attorney as resourcefully as the title company, and here's why - when a client purchases a home, he/she usually takes all of the liens as okay.
You need to find out when the lien be put on because that will determine who is the responsible party. Contact the Title company and have them run a title report again because the Title should own been clear before the verbs. This happens a lot when your within the middle of a transaction as everything takes time when it involves paperwork. Source(s): 16 yrs real estate
Title & Escrow
Loans
The title company should be liable for it, unless they can determine that you were aware of it prior to the sale of the house. The title policy is put contained by place to cover any such mistakes (but not to cover intentional deception).
Call the real estate agent, like right presently!!
If the title company missed the lien, they are liable for the mistake. If the lien was file on the property after the transaction had closed, you are responsible. Source(s): Oregon Realtor
probably the title company, you do have title insurance right?
Related Questions:
First time home buyer...don't know anything roughly speaking FHA loans or mortgage amount for my income?
I live in Colorado, just starting a investigational job where I will engender a minimum of 68,500 (medical field so I will be able to increase my income to around 75,000 with extra hours). I'd REALLY like...
Answers:
Wow. Typically when you provide a home you have the intent to transfer "clear" title. Title insurance is near to protect the buyer from liens discovered after the fact and to also assure clear title.
I would contact your agent and a real estate attorney as resourcefully as the title company, and here's why - when a client purchases a home, he/she usually takes all of the liens as okay.
You need to find out when the lien be put on because that will determine who is the responsible party. Contact the Title company and have them run a title report again because the Title should own been clear before the verbs. This happens a lot when your within the middle of a transaction as everything takes time when it involves paperwork. Source(s): 16 yrs real estate
Title & Escrow
Loans
The title company should be liable for it, unless they can determine that you were aware of it prior to the sale of the house. The title policy is put contained by place to cover any such mistakes (but not to cover intentional deception).
Call the real estate agent, like right presently!!
If the title company missed the lien, they are liable for the mistake. If the lien was file on the property after the transaction had closed, you are responsible. Source(s): Oregon Realtor
probably the title company, you do have title insurance right?
Related Questions:
First time home buyer...don't know anything roughly speaking FHA loans or mortgage amount for my income?
I live in Colorado, just starting a investigational job where I will engender a minimum of 68,500 (medical field so I will be able to increase my income to around 75,000 with extra hours). I'd REALLY like...