Forum Settings
       
1 2 3 Next »
Reply To Thread

For all you neoconsFollow

#52 Dec 07 2008 at 7:59 AM Rating: Decent
Lunatic
******
30,086 posts

Exaggeration for effect. Realistically, there'd be a couple of extra zeroes on that figure before they went to that point.


For the IRS to seize an individual's residence, they'd have to be in catastrophic default for more than the value of the home. Tax liens are common, asset forfeiture is less common, but happens. Actually seizing a homestead virtually never happens.

____________________________
Disclaimer:

To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.

#53 Dec 07 2008 at 8:00 AM Rating: Decent
Smasharoo wrote:

Exaggeration for effect. Realistically, there'd be a couple of extra zeroes on that figure before they went to that point.


For the IRS to seize an individual's residence, they'd have to be in catastrophic default for more than the value of the home. Tax liens are common, asset forfeiture is less common, but happens. Actually seizing a homestead virtually never happens.
I was thinking property taxes (where, incidentally, the threshold seems to be lower), not income taxes.
#54 Dec 07 2008 at 8:29 AM Rating: Decent
Lunatic
******
30,086 posts

I was thinking property taxes (where, incidentally, the threshold seems to be lower), not income taxes.


Even less likely. It's substantially harder for states or towns to seize residential property than it is for the IRS. Commercial property, sure. The legal exemptions for a building one is actually living in is about 10000 pages long, in some states it's neigh impossible to seize property until the owner sells it or dies, at which point the liens recover the debt.

You may be thinking of *bank foreclosure* auctions which are far, far, far, more common.



____________________________
Disclaimer:

To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.

#55 Dec 07 2008 at 1:17 PM Rating: Good
***
3,053 posts
Maryland has a yearly tax sale of all property that has back taxes due on it. The owner have 6 months to pay off their taxes or Anyone can buy your house by offering to cover the taxes on it.

Last year they also were allowing the City of Baltimore to offer any one's home that were default on their water bill. Their were lots of people who nearly lost their homes for bills under $100 before the state told the city to cut it out.
____________________________
In the place of a Dark Lord you would have a Queen! Not dark but beautiful and terrible as the Morn! Treacherous as the Seas! Stronger than the foundations of the Earth! All shall love me and despair! -ElneClare

This Post is written in Elnese, If it was an actual Post, it would make sense.
#56 Dec 07 2008 at 2:42 PM Rating: Good
**
559 posts
Most states differentiate between typical residential property and primary residence, or homestead property.

Usually it is much more difficult (legally) to take away someone's actual residency than some other residential property they happen to own.
1 2 3 Next »
Reply To Thread

Colors Smileys Quote OriginalQuote Checked Help

 

Recent Visitors: 232 All times are in CST
Anonymous Guests (232)