Subjects>Law & Government>Law & Legal Issues

Will the bank repossess a car with IRS tax liens on it?

Anonymous

∙ 17y ago

Updated: 11/10/2022

The IRS to my knowlege will not/and is not able to put a lien against property that is not outright owned by the person. If the bank holds the title, it is not the person's property yet and is not subject to an IRS Lien. If the vehicle gets paid off, then at that time the IRS can put a lien against it The IRS tax lien attaches to all property, real and personal. However, the IRS has a number of things working against them: 1. The title to the car is being held by the bank. 2. The bank's security interest is perfected (they are listed as a lien holder on the title). Because of this, the bank is going to have priority on the vehicle even if the IRS filed a Federal Tax Lien before the bank gave the loan.

Wiki User

∙ 17y ago

What else can I help you with?

Can my car be repossessed if I own it?

If there are no liens against your vehicle, there is nobody who has (or to have) ground to repossess it.

When a bank repossess someones car?

As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.

If you have two car loans at one bank can the bank repossess both even?

Yes they can repossess everything that you got a loan for.

Can a bank repossess a car who's registration is past due?

When can a bank repossess someones car?

When the owner defaults on the loan payments

Can a bank repossess my car if I am making some sort of payment?

If you aren't paying in full they can repossess the car. To a bank " some sort of a payment " doesn't count. Call them and make arrangements.

How much has to be owed for a bank to repossess a car?

it is up to the bank to decide. Legally, as little as 1 cent.

Does the bank have to notify you before they repossess your car?

I have NO IDEA, WHY look here if there is NO ANSERS

Can a car title have two liens financial company and bank?

Yes it can. I have done it.

If a person dies can you give car back to bank?

If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.

Can a bank take a car that some else as a lien on?

Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.

How do you use repossess in a sentence?

The bank's repossession of their house left the family with no place to live.

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