How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barrister Your Own Question
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 38237
Experience:  17 years real estate, Realtor. Landlord 26 years
19958803
Type Your Real Estate Law Question Here...
Barrister is online now
A new question is answered every 9 seconds

Want to buy a property of a friend who is deceased. His name

This answer was rated:

Want to buy a property of a friend who is deceased. His name is ***** ***** property, he owed to years back property tax of $1800.00. He owns IRS $21,000.00. Bank payoff of property is $35,000.00. Negotiated price with his son for $50,000.00 and we would pay back taxes. Now the question is can the property be sold to us as negotiated or will it be held up with IRS. Is sale of property held up by outstanding income tax of deceased individual?
JA: Have you talked to a real estate attorney about this?
Customer: No
JA: Where is the property located?
Customer: Benton County Missouri
JA: Anything else you want the lawyer to know before I connect you?
Customer: What is the fee for advise?
JA: You just pay a $5 deposit now and the rest only when you get a reply from the Real Estate Lawyer. All of this is 100% satisfaction guaranteed, so you can get a refund if you're not happy for any reason.
Customer: Who would the real estate lawyer be located?

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

You may also be offered a phone call, but those don’t come from me and are offered by the website and you are under no obligation to accept.

.

Do you know if the IRS has actually filed a lien on the property or not?

.

Have you had a title search run on the property to make sure that there aren't other liens or encumbrances on the title?

.

Has the son filed a probate case to settle his father's estate?

.

.

thanks

Barrister

Customer: replied 2 months ago.
Unfortuneately do not know those answers, apparently I need to find that out?
Customer: replied 2 months ago.
Had a question about the IRS $21,000.00 outstanding, can they file a lien on the property? Or is personal property and income tax separate?

Yes, you definitely need to find out what you may be getting into here..

.

And his estate will be liable for the IRS lien and any other debts that he may have owned when he passed. So in order to be able to sell the property, the son will have to file a probate case to settle the estate and be appointed as Administrator of the estate. Then he can sell the property to you and use the proceeds to pay towards estate debts.

.

But it is kind of unlikely that the IRS will file a lien on the property if they haven't done so by now.

.

However, when son is appointed as Admin, he has a legal duty to sell assets to generate money to pay all the estate debts, so if he isn't selling the property for fair market value, the IRS or any other creditor who wasn't getting paid off could object to the sale..

.

.

thanks

Barrister

Barrister and other Real Estate Law Specialists are ready to help you
Customer: replied 2 months ago.
Okay, that's what I needed to know, thank you. If I have questions in the future, do I contact you or will it be someone else?

Thank you very much for the positive rating and generous bonus, it is greatly appreciated!

.

It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the caption and the JustAnswer employees will get it to me.

.

.

Have a great weekend!

Barrister