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Real life Example #2 – This possessions try a keen REO and the Deal Addendum specified you to definitely insurable and marketable name was conveyed. But not, there is an Internal revenue service lien up against the assets on the former citizen. Internal revenue service liens are different for the reason that he is supposed to features a “lifetime” of 120 weeks from the time the fresh house is transferred. As a result if the Irs like, it does return to own 120 months once a sale.
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