Company Startup and Tax Law PlanningIn this article, you can discover:

  • How tax attorneys assist with title issues.
  • How to identify and resolve tax-related title problems.
  • The best way to facilitate communication among stakeholders during resolution.

With over a decade of experience collaborating with lenders, title companies, brokers, and underwriters, CTL has dealt extensively with liens and their implications.

Whether it’s addressing liens during residential or commercial property refinancing, securing lien discharge through cash-out financing, or handling subordination matters, CTL has gained in-depth knowledge from navigating these complexities – and we’re ready to use that knowledge to assist you.

How Can Title Companies And Tax Attorneys Collaborate To Address Title Issues Related To Liens, Judgments, Or Other Tax-Related Matters?

Title companies often lack expertise in understanding the nuances of tax liens and how they impact financing. In many cases, brokers provide title companies with a list of encumbrances, including tax liens, but fail to grasp their implications accurately.

As tax attorneys, we can work closely with title companies to verify and clarify the nature of these liens, ensuring they are correctly addressed in the context of funding.

Our expertise allows us to identify inaccuracies in lien filings, duplicates, and instances where liens have been paid but not properly released. By providing clarity and proper documentation, we help title companies confidently proceed with funding.

What Tax-Related Title Issues Can A Tax Attorney Help A Title Company Identify And Clean Up?

A significant challenge in the title examination process is correctly interpreting how specific tax liens apply to the financing situation. For example, multiple tax liens filed by the IRS may pertain to the same balance, leading to confusion for the title company.

We can delve into IRS systems, verify through transcripts, and obtain written documentation from the IRS to clarify the tax liability. This involves confirming which periods the liens cover and determining the appropriate balances for clearing the encumbrances. By offering this precise information, we enable title companies to complete their due diligence accurately.

What Strategies Are Used To Develop Solutions For Resolving Tax-Related Title Issues On Behalf Of Title Companies, Buyers, Or Sellers Of Real Estate?

To facilitate smooth communication among all parties involved, we proactively engage with both the business or entity holding the tax lien and the broker. We inform brokers about the upcoming tax lien matter, which they may not be directly involved with during the underwriting process.

We also communicate with the title company, providing comprehensive details about the tax issues and the strategies we’ll employ to address them, such as filing discharge certificates, securing lien payoffs, or arranging cash payouts. This proactive approach helps all stakeholders stay informed and ensures a smoother resolution process.

How Do Tax Attorneys And Title Companies Work Together To Facilitate Communication Between All Parties Involved, Including Property Owners, Tax Authorities, Lenders, And Other Stakeholders?

Communication is pivotal in addressing tax lien issues. While my team handles the backend work, the majority of the effort lies in effectively communicating with all parties and ensuring a shared understanding of the process.

We strive to align the interests of the broker, title company, underwriter, and other stakeholders, ensuring everyone is aware of the tax lien situation and the legal steps involved in resolution. By anticipating potential pitfalls and preparing in advance, we reduce stress and streamline the process, ultimately making the closing smoother and more efficient.

For more information on Working With Title Companies To Clear Property Liens, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (720) 780-0501 today.