state liens


#1

Sean,
?
?? i know that the IRS has the right of redemption period (4 or 6 months, right?), but what about if someone has a State of California Franchise Tax Board liening on their property? is that due and payable, wiped away, or do they have a right to redeem period as well? any info would be very helpful.
?
thanks, Brent


#2

It does not have any special rights and would be treated like any other lien. If it is senior to the loan purchased in foreclosure it would remain outstanding, and if junior it would be wiped out.