A tax lien is a bond or security interest placed on property to secure the payment of taxes. Tax liens can be the result of delinquent Property Tax, or even from failing to pay other taxes such as Income Tax.
The unique thing about a tax lien, setting it apart from other forms of taxation, is that in the case of real estate the tax lien "runs with the land." In other words, the lien stays with the property, regardless of whether the property is sold or transferred to another owner. Thus, the owner of a property under a tax lien might not even be the person whose original delinquency created the lien.
If you find yourself under a tax lien, you should consult with a qualified Tax Attorney to find out what your options are.
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Category: Tax Law
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