My understanding is that CA Franchise Tax Liens do not have priority like a Federal Tax Lien. Is this correct? My understand is that the CA Franchise Tax Liens(s) would be paid in accordance to the recording date of the lien. Is that correct?
There are 2 loans on this property. The lender is the same for both 1st and 2nd.
1st Deed of Trust $333,000 recorded on 5/12/04
2nd Equity Line $300,000 recorded on 5/7/04
Lender recorded error in the recordation of the Equity Line prior to the 1st, using a Subordination Agreement recorded 3/21/11
CA Franchise Tax Board 255,000 6/7/11
CA Franchise Tax Board 22,100 3/17/10
CA Franchise Tax Board $45,200 10/15/10
Abstract Civil Judgement $51,500 11/13/09
Will the Subordination recording date have any impact on the seniority of the 1st and Equity line as it relates to the CA Franchise Tax Board liens and or the Abstract Civil Judgement? My assumption is that the 1st Deed of Trust will be the priority lien over all other liens of record. Is this correct Sean?