How to remove an obsolete IRS Lien and Bank Assignments from a Property Deed?
Anon E Mouse <[email protected]> Mon, 19 Aug 2024 03:19:53 GMT
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Forty years ago (1984) I was forced to file for Chapter 11 protection
for our small family business. The total indebtedness was small, perhaps
about $46,000, but it took seven years to go through the process
successfully, with the case finally closed in mid-1991.
Hearing about "title fraud", I decided to have a look at our home's
deed on the county's Register of Deeds website, and was unpleasantly
surprised to see that there were an IRS lien and two bank assignments
listed, all of which predate the C-11 filing.
The IRS, after a lot of haggling with our bankruptcy attorney (no
longer practicing), was apparently paid off in mid-1989, and subsequently,
out of the blue and without any explanation, they refunded 77% of that pay
off. My online IRS account currently indicates that I owe them $0.00.
The bank "Assignments" arose from small unsecured loans accruing from
our practice of discounting invoices. The second one, which should have
nullified the first, is actually a roll-over of the first, with a lot of
interest, fines and fees added. As I remember, our attorney negotiated a
pay-off plan for the amount remaining due, less the excessive interest,
fines and fees, and according to a journal entry that I have, the bank was
totally paid off as of mid-1989. Unfortunately, our business records from
that time are long gone, so I have no record of the settlement/payment
details. Over the years, the bank has gone through three
acquisitions/mergers, such that the original lender no longer exists.
So, my question is how to go about having these obsolete encumbrances
removed from our deed.
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