Tax Lien Lawyers in Devils Lake

A "lien" in Devils Lake, North Dakota is a property right that a person or entity has in property owned by someone else, created by law, for the purpose of enforcing a debt. A lien gives its holder several rights in the property of another person, including the right to seize the proceeds of a sale of the property, and, if the debtor files for bankruptcy, the right to go to the front of the line among other creditors, making it more likely that the lien holder will collect something.

As you might have gathered, a "tax lien" is simply a lien placed on property by the IRS or Devils Lake, North Dakota tax authorities, to collect taxes that the property-owner has failed to pay.

Of course, a tax lien in Devils Lake, North Dakota isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. However, a tax lien applies to property that the taxpayer obtains even after the lien is created. Obviously, this makes it quite a bit easier for the government to collect its taxes.

Tax Lien Procedure in Devils Lake, North Dakota

In Devils Lake, North Dakota, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a determination that a person is delinquent in their tax obligation.

They will then mail a document called a "notice and demand," which lets the taxpayer know that they owe money on their taxes, and that they have a certain period of time (usually 10 days) to pay what they owe.

If the deadline passes without payment, most tax liens in North Dakota take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.

However, in Devils Lake, North Dakota, and anywhere else in America, a tax lien only lasts for 10 years, and then it automatically expires. If the IRS fails to exercise the substantial rights that it has under a tax lien within that period of time, it is assumed that they never intend to do so, and the lien will cease to exist. This ensures that valuable property is only kept out of the economy for a limited period of time.

How Can a Devils Lake, North Dakota Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of North Dakota that a tax lien has been imposed on your property, some pretty complicated legal issues are necessarily involved.

Fortunately, Devils Lake, North Dakota tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek competent legal advice, to ensure that your legal rights are protected.