Tax Lien Lawyers in Lumberton

A "lien" in Lumberton, New Jersey 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 many 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.

In Lumberton, New Jersey, a "tax lien" is simply a lien imposed by the government to collect back taxes from a person or corporation, when other methods for collecting have failed.

Tax Liens in Lumberton, New Jersey are generally only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's important to note that virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Lumberton, New Jersey

In Lumberton, New Jersey, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer actually owes taxes that they haven't paid (that they're delinquent in their taxes).

At this point, they will send the taxpayer a written notice stating that they owe a certain amount of money in back taxes, and that they have a small window of time (often 10 days or less) to pay it.

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

However, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Lumberton, New Jersey or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to prevent potentially-valuable property from being encumbered indefinitely. Basically, it creates a measure of certainty for both parties.

How Can a Lumberton, New Jersey Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in New Jersey, you will probably have to deal with some fairly difficult legal issues, which might be confusing to a layperson.

So, it should go without saying that if you are facing the prospect of your home or vehicle being slapped with a tax lien, you need to seek the advice of a good tax lawyer in Lumberton, New Jersey as soon as you can.