Hi this is Julia M Spencer real estate advisor investor and enthusiast and we are parked here in front of this house right here I don't want to get out because I really don't want to bother the inhabitants right now somebody's living there but this is one of the houses that I purchased a few months ago at a tax lien foreclosure tax lien foreclosures are a subject that I go into very big details into in my educational recordings on my website at wwlp.com so a little bit background about this house this house per the tax record as of April 2022 is listed as being worth fifty nine thousand dollars it's about forty thousand dollars for the structure and about twenty thousand dollars for the piece of land that it sits on it's about a quarter acre it's um it's a decent sized house I don't exactly know the layout inside because I've never been there and that's kind of like what you get into when you buy tax lien foreclosures you can't really go inside and check them out and see what's going on in there but right now this house is sitting in the legal process over year where I can't really do anything to it I can't touch it I can't kick the inhabitants out and I can't collect rent or anything like that I'm just kind of waiting to see if they pay me back or not if the owner should choose to pay me back the money that I paid for the sheriff state that are god they would have to pay me what I have paid plus 20% if the waiting period goes even just one day over one year they would have to pay me 30% so either way I'm...
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Irs tax lien on inherited property Form: What You Should Know
If the estate is distributed to beneficiaries for value within a reasonable period after the date of the decedent's death, payment of the tax can be deferred to the date those beneficiaries receive distribution of the estate assets. In addition, to allow tax-free distributions to beneficiaries, the IRS requires that the distribution of an estate must include the full value of the property that is to be paid, the proceeds on which the property tax liens are based, and any interest and penalties or other amounts. It is important to understand that the IRS must collect any taxes due in a timely manner, and that all tax liens must be discharged or discharged in an equitable, timely, and reasonable manner.
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