What is a tax lien and how does it affect home sale?

[MiamiCuse]

I saw a house that is for sale but the agent said the closing cannot happen until June 1 2006.

When I asked why he said it is because there is a tax lien on the house and May 20 2006 is the ten year anniversary of this lien.

I am confused. What happens at the ten year anniversary? How does this lien factor into the home sale? Does that mean it will not clear the title search? and after May 20 it will?

Property is located in Miami-Dade County, Florida if location affects the interpretation.

Thanks,

MC

[Brian]

tax lien = bastard did not pay some tax

ten year anniversary = lien is old and likely statute of limitations prevents lien holder from legal action.

After 10 years lien may be expiring or owner is going to ask the court to remove lien.

Local laws ( attny ) can give you more information on this subject.

[mwlogs]

If this is the same house that has the water stained ceiling, I'd run (not walk!) away! Google 'tax lien' and you won't find anything good to speak of. basically when a property owner is behind on their taxes the ciity or county places a lien on the property. I didn't read a lot of the details, but it doesn't sound like something any buyer would want to have to deal with!

[David Efflandt]

Actually if it is a 10 yr tax lien it is probably for federal income taxes. If it was a property tax lien, the property would likely either revert to the county or go to tax auction, depending upon what the county does in that situation.