Tax Liens, State and Local
Underwriting Manuals
Standard Exceptions
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Forms
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Table of Contents
TXL
Tax Liens, State and Local
Many state or local taxes (other than real estate taxes) are secured by statutory liens that are generally effective upon recording. These liens must be excepted unless clearly barred or extinguished by foreclosure.
Exceptions
TXLX01
ALTA
12/01/1995
V
2
Notice of State or Local Tax Lien
Tax Lien for ____________ taxes against ____________ in the amount of ____________ plus costs, interest and additional taxes recorded ____________.
Comment: Many state or local taxes (other than real estate taxes) are secured by statutory liens that are generally effective upon recording. These liens must be excepted unless clearly barred or extinguished by foreclosure.
Comment: Many state or local taxes (other than real estate taxes) are secured by statutory liens that are generally effective upon recording. These liens must be excepted unless clearly barred or extinguished by foreclosure.
TXLX02
STG
12/01/1995
V
2
Redemption
Rights of redemption in favor of _________________ in connection with the suit to foreclose lien reflected by Deed recorded _______________ for a period of __________________ after _________________________.
Comment: In the event of foreclosure of state/local (non-real property) tax lien, the former owner and lienholders may have statutory rights of redemption. Those rights must be excepted. However, you may not insure on the basis of a nonjudicial foreclosure of a state/local tax lien unless you obtain approval from the Company.
Comment: In the event of foreclosure of state/local (non-real property) tax lien, the former owner and lienholders may have statutory rights of redemption. Those rights must be excepted. However, you may not insure on the basis of a nonjudicial foreclosure of a state/local tax lien unless you obtain approval from the Company.