Tax Liens
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Tax Liens
Tax liens have priority over deeds of trust. This is a fact you won’t want to forget should a tax lien appear. Thus, in order for the investor to protect themselves in the event of a tax lien, a provision should be added in the trust deed and note that explains if the borrower and their property have or will receive a tax lien; it is the trustor’s responsibility to contact the investor.
In addition, the note should provide the investor with the choice of needing the payoff, so that they can protect their principal from foreclosing on the tax lien.
Related posts:
- Liens Facts
- Lien Priority
- Deed Of Trust | Third Party Benefits
- Trust Deeds | What is insured by policies?
- Trust Deed | Loan To Value
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