Federal Tax Lien

A lien attaching to property for nonpayment of a federal tax (estate, income, etc.). A federal tax lien differs from other liens in that it is not automatically wiped out by foreclosing on a mortgage or trust deed recorded before the tax lien (except by judicial foreclosure).

Real Estate Practice Test - Pass Your Real Estate Exam Now!
RealEstatePracticeTest

More Real Estate Definitons