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Real Estate Practice : Lesson 2400

By
Industry Observer TN LIC# 290452

#2400

When we talk about real estate property tax liens we're talking about tax liens that are general, voluntary liens that affect property.

Is this true or false ?

Take your time. The solution is posted below the wildlife photo.

wildlife

A. False

Property tax liens on real estate are involuntary and specific.

If it's involuntary, the interest in the property is created by law as opposed to voluntary which gives an interest in the property to a creditor voluntarily and by will.

If the lien were a general lien it would attach to all of the debtor's property.

Since it's only real estate we're concerned with, it makes the lien specific, or a lien which will only be enforced against a particular property.

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Time&Temp Memphis

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Comments(2)

Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

And something that needs to be researched and alleviated if looking to purchase a home with a tax lien.

Oct 14, 2013 10:58 PM
David Saks
Memphis, TN
Broker / Industry Analyst

No kidding, Gabe, with all of the damned bid-rigging on the court house steps, seems like more doofus swindling real estate tax lien bid-riggers are going to prison these days for violation of the Sherman Act than marijuana smokers, wife beaters and shoplifters.

Oct 14, 2013 11:11 PM