My question involves judgment recovery in the State of:NY
I bought a property at a Tax Sale foreclosure, knowingly with a lien on it. All the other liens that existed were wiped out at the point of auction, except 2 of them. The only ones that survived the sale were 2 levied by State of New York against the Prior owner, and upon further investigation, were due to Unpaid State Sales tax.
Two questions:
--I know there is a (10-year?) expiration for judgements to be satisfied. Does this also apply to State levied liens such as this? Are States exempt from this expiration, or are they more likely to "renew the judgement"?
--What would be the chance or working out a deal with the State where I pay off the lien for a lesser amount, and, should this be done ASAP or at the point at which I sell the property in the future? Also, how would this kind of arrangement be made? (I have already called the state and talked to one rep who said, she has never heard of such a request-- of a person who wanted to pay off a judgement which was someone' else's judgement) The auctioneer told me this has been done, but had no further info.
Either way it should still be decent to hold it as a rental I suppose!





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