Understanding Tax Liens

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Maja Burton

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Description

Audition for audio book \"Understanding Tax Liens\"

Vocal Characteristics

Language

English

Voice Age

Young Adult (18-35)

Accents

North American (General)

Transcript

Note: Transcripts are generated using speech recognition software and may contain errors.
how tax lanes and tax deeds work. Many people are not aware of how tax lanes and tax deeds work to begin. A tax lien supersedes any other leans a tax lien is a senior lean to any other leans, meaning all other lanes are junior. Two Attacks lane. When a taxpayer begins to default on the taxes due, the county allows investors to help the taxpayer out by paying those taxes in exchange for a tax lien position on the title. Counties allow this transaction to take place by way of auction. These auctions are called tax sales. Again, tax leans supersede any other leans. Therefore, the practice that is occurring in every county in the U. S. A. Can be very lucrative once you understand the process. First, let us define what Alan is. Lean definition. A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt, Elaine could be established by a creditor or a legal judgment. A lien serves to guarantee an underlying obligation, such as the repayment of a loan. If the underlying obligation is not satisfied, the creditor may be able to seize the asset that is the subject of the lien. There are many types of lanes that are used to secure assets. In this case, the county or the investor with equitable claim to the property can seize the asset. If the lien is not satisfied when the investor purchases a lean through auction at a tax sale, the investor now owns that right as a creditor to seize that asset. Since it is a tax lien, all prior lines could be cleared for the tax lien holder. A tax lien is a senior lane, and all other lanes are junior. Two Attacks Lane. We will get into detail to display how you will determine if the title is clean or if it has prior leans. That could be the taxpayer's responsibility. For now. Let us get an understanding of how the entire process transpires.