QUESTION
Can IRS take a property that has other peoples name in it other than the one who's on the deed?
Asked on Mar 26th, 2013 on Taxation - Colorado
More details to this question:
My father deeded a property to me and my two siblings. I have outstanding state and federal taxes and want to know if the Internal Revenue Service’s can take the property even if other people's names are on the deed. The property is owned free and clear.
3 ANSWERS
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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IRS is highly unlikely to take any of the property. They may put a lien on your interest in it, which means that if you sell it or borrow against it, they would get paid. In any event, if you and your siblings on it as tenants in common, then a lien would only attach to your third.
Answered on Mar 27th, 2013 at 1:01 AM
Yes, the IRS can file a lien against the property.
Answered on Mar 26th, 2013 at 2:43 PM
Tax Attorney serving Portland, OR
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Bullivant Houser Bailey PC
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Yes, but the IRS would have to give each of the other owners their proportionate share of the sale proceeds.
Answered on Mar 26th, 2013 at 2:43 PM