Legal Question in Real Estate Law in New Jersey

I co-own a property with someone. He has managed to get a $3 million IRS lien on the property. It's not a lien against me in any way. How can I sell this property with his lien? Or how can I get his name removed from the title? What is a person to do in this kind of situation?


Asked on 2/16/16, 3:02 pm

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

The lien is against your co-owner's interest in the property. Therefore, when you sell the property, the IRS lien will claim your co-owner's proceeds from the sale, but not your proceeds. In order to have a smooth settlement, you or your lawyer will have to work with the IRS to make sure that it agrees to release the lien upon payment of your co-owner's proceeds to the IRS.

Be careful with whom you invest in the future. Co-ownership is a risky business.

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Answered on 2/16/16, 5:40 pm


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