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5 Responses to “How long does a State Property Tax Lien Stay on your Record in …”
How long does a State Property Tax Lien Stay on your Record in Texas?
I was curious.I recently inherited a property that has more unpaid taxes, penalties and interest than the land is worth. I know during these rough economic times that the property will get auctioned off, and I figure there will be a judgment soon after for the difference of the final sale price and all the fees and expenses. I understand that part.
I keep hearing conflicting details. Most focus on the credit bureaus which I understand is seven years, but then I also hear 10 years.
I am really curious how long they can keep a judgment on me, say if I want to buy or sell any property 10 or 15 years from now, does the judgment lien stay on forever until paid, or does that disappear after time?
Comment made on February 2nd, 2010 at 1:32 pmI did a little more research, and the tops taxes can stay is 20 years. After that time, the tax authority has to give it up.
As for the actual tax lien,it depends on how long it takes to pay off the taxes.
Comment made on February 2nd, 2010 at 6:34 pmIf you sell the property,then you will have to pay off the past due taxes unless the buyer agrees to help pay some of the past due taxes in order to speed up the sale.
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Murder, bank robbery and taxes do not have a statute of limitations. They remain active forever.
You can let the taxing authority take the property. They will sell it as a tax lien and the buyer will pay all that is due.
If the property has potential future value, you can pay the taxes and keep the property.
Comment made on February 2nd, 2010 at 6:36 pmReferences :
If you are offered property through inheritance that is encumbered by more liens than the value of the property the solution is simple: Refuse the inheritance and walk away. The state (or other lien holder) then eats the loss and takes title to the property and tries to recover as much of their losses as possible.
It would be foolish to accept title when the liens are greater than the value of the property!
Comment made on February 2nd, 2010 at 6:38 pmReferences :
Not sure about Texas specifically. In most states, once the lien is filed, it will stay active for 7 years (typically). However, nothing keeps the state from re-filing every 7 years; thus, re-setting the clock so to speak.
About the only way to clear a tax lien is to pay up.
Comment made on February 2nd, 2010 at 6:40 pmReferences :
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