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IRS Tax
Saugus, MA
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Posted about 1 year ago in Tax Fraud / Tax Evasion
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Someone owes the IRS money for back taxes and the IRS has put a lien against their primary home. The IRS finds out that you own a 50% share of a vacation condo, can the IRS force the sale of half the condo to a complete stranger in order to satisfy the debt owed?
Answers (1)
Anthony John Colleluori
This attorney is licensed in New York.
Posted about 1 year ago.
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Generally no. The IRS could seek partition and you could oppose and may very well be successful. The IRS can lien the property and when it is sold, can collect it's share of the proceeds. You could also negotiate the price of the Condo and buy out the other share as long as there is no fraud involved. ( ie you acting as a ghost buyer for the debtor). Obviously selling it back to that debtor would only permit the lien to be reset, but you may be able to rent the property back to the debtor under the right circumstances.
You should of course speak to an attorney and tax advisor about this situation as soon as you can. Good luck. |
