FEDERAL TAX LIEN ON FORECLOSED PROPERTY FULL
You may reclaim full ownership of your property by repaying what you owe at any time before the Land Court grants judgment in a tax foreclosure case. A city or town may also assign (give or sell) the right to conduct a tax taking to a third party (assignment of a “tax receivable”). What is a tax lien foreclosure case?Ī city, town, or sometimes a third party may enforce its tax lien by either taking ownership of the property for itself (a “tax taking”) or selling the property (a “tax sale”) a tax sale is usually to a third party, but sometimes, following a tax sale, the city or town is still the one who receives ownership of the property. The city or town also may assign (give/sell) the right to enforce the lien (the “tax receivable”) to a third party. If you do not pay it within 14 days of receiving that demand letter, the city or town may conduct a “taking” of your property, or it may conduct a tax sale of your property. After getting a lien because your property taxes or water/sewer bills were not paid by their due date, the city or town may mail you a demand for payment.
If you do not pay your property taxes or water/sewer bill by their due dates, this lien allows a city or town (or sometimes a third party), after proper proceedings, to sell or become the owner of your property so that the city or town can be paid what it is owed. A tax lien is a lien that a city or town automatically receives on your real estate (land and buildings) as soon as your property taxes or water/sewer bills are assessed.
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