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re: Using tax liens in calculating equity for purposes
I agree with Steven. If this tax lien is a property tax lien then write it
as having first priority, if it's a tax lien prioritize it based on the
date it was perfected. Then strip it!
Sincerely,
Michael Avanesian
Law Offices of David A. Tilem
www.tilemlaw.com
818-507-6000
On Mon, Oct 28, 2013 at 4:33 PM, Steven B. Lever wrote:
> **
>
>
> David:****
>
> ** **
>
> I disagree with the statement However, the tax liens would of course need
> to be paid before the junior lienholder in the event of a sale or a
> foreclosure. This is not true. Its first in time, first in right for
> all liens. Only property taxes would take precedence over mortgages.****
>
> ** **
>
> Steven B. Lever ****
>
> ** **
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *David S
> *Sent:* Wednesday, October 23, 2013 1:36 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] re: Using tax liens in calculating equity for
> purposes of Motions to Avoid Liens in Chapter 13 Cases****
>
> ** **
>
> ****
>
> Hi everyone,
>
> I apologize in advance if this question has been asked before. We are
> attempting to avoid a junior lien on our client's principal residence in
> Chapter 13 in a scenario where the equity is razor thin based on our recent
> appraisal.
>
> There are IRS liens on the property of approximately $20,000.00.
>
> Can I incorporate these tax liens in my motion to avoid junior lien
> analysis? The tax liens were recorded after the junior mortgage. However,
> the tax liens would of course need to be paid before the junior lienholder
> in the event of a sale or a foreclosure.
>
> If the answer to my question is yes, what position would I list the tax
> lien in? First position on the standard local rule form re: Motion to
> Avoid Junior Lien on principal residence?
>
> Thanks!
>
> - David****
>
> ** **
>
> ****
>
> David S. Shevitz, Esq.
> Ure Law Firm
> 811 Wilshire Blvd. Suite 1000
> Los Angeles, CA 90017
> Telephone: (213) 202-6070
> Facsimile: (213) 202-6075
> Email: david@urelawfirm.com
> Website: www.urelawfirm.com****
>
> ****
>
>
>
I agree with Steven. If this tax lien is a property tax lien then write it as having first priority, if it's a tax lien prioritize it based on the date it was perfected. Then strip it!
Sincerely, Michael AvanesianLaw Offices of David A. Tilemwww.tilemlaw.com
818-507-6000
On Mon, Oct 28, 2013 at 4:33 PM, Steven B. Lever <sblever@leverlaw.com> wrote:
David:I disagree with the statement However, the tax liens would of course need to be paid before the junior lienholder in the event of a sale or a foreclosure. This is not true. Its first in time, first in right for all liens. Only property taxes would take precedence over mortgages.
Steven B. Lever
From: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of David S
Sent: Wednesday, October 23, 2013 1:36 PMTo: cdcbaa@yahoogroups.comSubject: [cdcbaa] re: Using tax liens in calculating equity for purposes of Motions to Avoid Liens in Chapter 13 Cases
Hi everyone,I apologize in advance if this question has been asked before. We are attempting to avoid a junior lien on our client's principal residence in Chapter 13 in a scenario where the equity is razor thin based on our recent appraisal.
There are IRS liens on the property of approximately $20,000.00.Can I incorporate these tax liens in my motion to avoid junior lien analysis? The tax liens were recorded after the junior mortgage. However, the tax liens would of course need to be paid before the junior lienholder in the event of a sale or a foreclosure.
If the answer to my question is yes, what position would I list the tax lien in? First position on the standard local rule form re: Motion to Avoid Junior Lien on principal residence?Thanks!- David
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David S. Shevitz, Esq.Ure Law Firm811 Wilshire Blvd. Suite 1000Los Angeles, CA 90017Telephone: (213) 202-6070Facsimile: (213) 202-6075
Email: david@urelawfirm.comWebsite:
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