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liens: Tax Liens - 12/19/06 03:03 PM
Tax Liens and Special Assessments
If for any reason government taxes, such as income or property taxes are not paid, they become a tax lien against the property. Special assessments are levied against property owners to pay for local improvements, such as underground utilities, street repair, or water projects. Payment for the project is secured by a special assessment which becomes a lien against real property. Property taxes and special assessments are specific liens whereas other government taxes are general liens.
I had a situation with a client who thought he could avoid paying the IRS a huge amount in back … (2 comments)

liens: Liens - 12/13/06 06:53 PM
A lien is defined as an obligation pay a money encumbrance that may be voluntary or involuntary. An owner may choose to borrow money , using the property as security for the loan , creating a voluntary lien. What many people dont know is that a voluntary lien does NOT have to be recorded.
Typical voluntary liens include trust deeds and mortgages. On the other hand, if the owner does not pay taxes or the debt that is owed, a lien may be placed against his or her property without permission, creating an involuntary lien. Typical involuntary liens include :
(1) Mechanic`s Liens
(2) … (2 comments)

 

Eddy Martinez

Highland Park, CA

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Nationwide Funding Group

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