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Tax Liens
Federal, state, county and municipal governments have the authority to impose liens on property for delinquent taxes. The liens arise under various laws including, at the federal level, the Internal Revenue Code. A "lien" is an encumbrance on the tile to property - much like a mortgage - that inhibits the owner's ability to sell, transfer, mortgage or otherwise realize the value of the property.
A potential buyer of property will not want to purchase property that is subject to a tax lien without the lien being discharged (i.e. released) or having money set aside to pay the delinquent taxes. The Internal Revenue Service (IRS) is responsible for administering federal tax liens - for income, employment, gift, estate and other taxes - and has specific procedures for obtaining a release of a lien.
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