Tax Lien Lawyers in North Fort Myers

In North Fort Myers, Florida, a "lien" is a security interest placed on a piece of property, normally land or a house, to secure the payment of a debt. It typically gives a creditor the right to take ownership of any equity that exists in the property, to secure the payment of the debt. If the owner sells the property, the creditor may also be entitled to the proceeds of the sale, up to the amount owed. It can also give the holder of the lien a higher priority status, giving them an advantage over competing creditors, if the debtor files bankruptcy.

In North Fort Myers, Florida, a "tax lien" is simply a lien imposed by the government to compile back taxes from a person or corporation, when other methods for collecting have failed.

However, a tax lien in North Fort Myers, Florida will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. However, a tax lien can be applied to property that the taxpayer acquires after the lien goes into effect.

Tax Lien Procedure in North Fort Myers, Florida

In North Fort Myers, Florida, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer really owes taxes that they haven't paid (that they're delinquent in their taxes).

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are required to pay their taxes within 10 days.

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

However, in North Fort Myers, Florida, 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 certain period of time.

How Can a North Fort Myers, Florida Tax Lien Lawyer Help?

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

Thankfully, North Fort Myers, Florida tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek qualified legal advice, to ensure that your legal rights are protected.