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<br />Excerpts From Internal Revenue Code
<br />Sec. 6321. Lien For Taxes.
<br />
<br />It any person liable to pay any lax neglect! or refune to
<br />pay the same after demand. the amount (Including any Intlr-
<br />est, additional amount, addition to tax. or assessable penalty,
<br />logether with any cosls that may accrue In addition therlto)
<br />shall be a lien in favor oltha United States upon all property
<br />and rignt! to property, whslher real or perso"al, belonging
<br />ta such peraon.
<br />
<br />Sec. 6322. Period Of Lien.
<br />
<br />Unless another dale Is specllically lixed by law. the lien
<br />Imposed by section 6321 shall arise at the tlm~ the assessment
<br />Is made and shall continue untlllhe liability for the amDunt so
<br />85sessed (or a ludgment against the taxpayer arising out of
<br />such Iiablllly) '5 sat'sfled or becomes unenforceable by reason
<br />01 lapse at lime
<br />
<br />Sec. 6323. Validity and Priority Against
<br />
<br />Certain Persons.
<br />(a) Purchaser's, Holders Of S!Curlty In.
<br />tere.t., Mechanic's Uenors, And Judgment
<br />LIen Creditors. - The lien 'mpo!ed by section 6321 shall
<br />not be valid as against any purchaser, holder of a security
<br />Interest, mechilnlC'! lienor, or ludgmentlien creditor until nDtlce
<br />thereof whrcn meets rhe re~U1rements 01 subsecllon (I) nas
<br />been f"ed by Ine Secrelary
<br />
<br />If I Place For Filing Nollee; Form.-
<br />
<br />11) Place For F,"ny . The nollee relerred to In sub.
<br />secllon (a) shall be tiled.
<br />fA) Under State Laws
<br />(I) Real Properly. In Ihe case 01 real properly, In one
<br />of lice wllhln the Slale lor Ihe county ar olher gDvernmental
<br />subdiVision!. as deslgnaled by Ihe laws 01 such Slate, In
<br />which the propN1V >ubJeclto rhellen 15 s,lualed; and
<br />(III Personal Properly In Ine case 01 personal
<br />properly, whelMr Isnplble or 'ntanglble, In one ofllCll
<br />w,thln Ihe Stille '0' me county. or other gDvernmenlal
<br />sutldrvl!ilOI1I as dlJ~lonalea by fhe laws III such Slate,
<br />In whIt" 111~ ~rO(Je"', Subject 10 ltlt" lJen IS sltuatod.
<br />or
<br />'81 W,lt, Clerk Of O"I"ct COllrl 1111he oll,co 01 the clark 01
<br />'Ilt Unllll:d Stales rJ'slrlct Coun fur Itll! judiCIal dls10cl m which
<br />nil P/(!t,llHly ~ubl~cl to Il{tn IS !lIllJalf!d 'Nhwc....er the Slale flag
<br />10f b't law deSIt;;naled onl~ (jtt~r.t' N~l Cfl meels HIe requirements of
<br />'IiJtJC;iHagrilotl it-I 1)1
<br />Ie. Wlltl UI;<Cfifr1rf (/' ;Jcr.rls 01 r"e lJ :.trlc1 01 CoJun'!! a If:
<br />'hp' "HIC~ 0' t~r. n~co":1er ~)' 01e1fi (II 'h~' DI5lrlCl of COI\."I!ll,l "
<br />'~1'" Dr~II'fH"~ .".dJ}rr' '(J ',,!! 'l:n " ':.'t\Jfllf'll' n' .,.' ! /11
<br />.OhlflttJt"
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<br />Entered as Document No.
<br />88--, 1 U 2 t+ 8 9
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<br />Grantor ~
<br />Gfantee.~
<br />S 1)~~f'A~ I" '7~' ", ,\ e r II)
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<br />2.
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<br />(2) Situs Of Property Subject TD Lien - For purposes of
<br />paragraphs (1) and (4). property shall be deemed to be .flullld.
<br />(A) Real Property. In the CIII Dl real property, .1 Ib
<br />phy,'c.lloc.llon; or
<br />(B) Personll Property - In the ClN 01 ptrlOllll property.
<br />whether tangible or Intangible, .1 lh. r"'lIlIlCI 01 lilt
<br />taxp.yer ai the tlml lhl notlCI alliin II mid.
<br />For purpolII of Plr.gr.ph (2) (8), thl relldlllCl of. corporation
<br />or partnerShip Ihlll be deemed to be the pl.Ct .1 wIllch lilt
<br />principal eXlcullv. olflel 01 tilt bullnll. II locI ltd. Ind l1li
<br />residence 011 taxplyer whp.. r"'denel I. wlthDutlhe Unllld
<br />SlltK shill be deemed 10 be In the Dlllrlcl of Columbia,
<br />(3) Form . The form and contlnt 01 the notlCt
<br />referrld 10 In subsection (I) sh.II be pl1scrlbtd by lilt
<br />Secrclnry, Such notice sh.1I be vllld nOlwlthl1llllllng any
<br />ather provision 0' law regzrdlng the lorm or contini 01 .
<br />notice of lien.
<br />
<br />Note: See section 6323(b) for protection for
<br />certain interests even though notice of lien
<br />imposed by section 6321 is filed with respect
<br />to:
<br />
<br />1 Securities
<br />2, Motor vehlcll'
<br />3. Pereonal property pUfehllld ., IItllll
<br />4. Perea nil property purchlled In ellu.1 Slle
<br />5 PereDn.' prolllrty subjected 10 pOSSIlSOry lien
<br />8. Rial property tu and speclalllsl..ment liens
<br />7 Residential property subjeclto I mlch.nlc'S
<br />lien for certain repairs and Imorovemen"
<br />8 Atlorne{s liens
<br />9 Certain Insurance conlracts
<br />10. Passbook loans
<br />
<br />(g) Reflllng Of Notice. - For purposes 01 Ihls
<br />secllon .
<br />
<br />11) Gener.1 Rule. - Unless no [Ice 01 lien Is reliled In
<br />Iho manner prescribed In para,oraph (2) during the required
<br />reflllng period. such nol!ee of Iian shalt be troeled as tiled on the
<br />date Dnwhlch It IS riled (In accordance wllh subseclIon (I)) after
<br />thO explrallon DI SUCh rallllno period
<br />
<br />!2) PI.clt For Filing. - A nOl,ce 01 hen reflled
<br />dullng Ihe ,eQulreo relollng pel/ad shall be ellcctlve only,
<br />(A) II,
<br />II) such notice 01 lien Is rallied In Ihe olllee In which the
<br />prIor nOtice 01 han was 1Iled, and
<br />1111 In the case 01 raal property. ilIa lact 01 'elollng Is
<br />entereO and recorded III an Illdak to Ihe extenr reqUired by,
<br />subsection (f) /41 al10
<br />'81 III any case III which. 90 days or.moro Prior to Ihe dale
<br />of . retlllng 01 nOllCO of lien under subparagraph fAI. Ihe
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<br />Seermry rectlved written InfDrmlllon fm tile IIWB1Iir
<br />pmcrlbtd in rtgulllionl iSSUId by 1Iw Slcmali/
<br />col1Ctmlng I cIIIngt in 1Iw IIXpIyIr'I rakleIa, IIII1ll11l:11
<br />o1luch Iltn 1,IlR fllld In IeCDrdIlaWill1 ~ (fj ill
<br />1111 5111t In wllIcIllllCh 1IIIIltncI1II1Ica1Id.
<br />
<br />(3) RequirId Rifling PIIIocL - In Illt CUI
<br />DI.ny nollce 01111n. tilt... "'nQuirId lIIillng perlDll" _ -
<br />{A) lilt Dnt-YIII ptrloclllldlng 3041)'1 after1lll u;tl1'l110n
<br />01 6 yurs .I1Ir lilt dill of IIlI ~ Qf' IIlI till, &llll
<br />(BJ lilt on..)'IIfptriod enIlingwiththl~ofe real1l
<br />IlIlr Iht dOH of 1lIIr ~ ~uilld nflllIrl; Plnod !!If
<br />suCh notice 01 lien.
<br />
<br />Sec. 6325. Release Of lien Or
<br />
<br />Discharge Of Property.
<br />
<br />(I) R.... Of UIn. - Su!ljctlll SUCll
<br />regulltlons u IhI SIcrIIIry IIIIY pmcme, IllI ~TY wll
<br />Issue a CiIIrtiflczII 01 relllH 011/1)' lien impotlld wlllll'l$lItt'ltli
<br />Iny inlemal revlnue IU natllllf1llan31 days l1'lertlle IlJ)r on
<br />whiCh -
<br />{I) Ulbillt, Satisfied Of Unenlurcal>lt - The SelmllY
<br />lilllls !halthlli.bility lor tilt 1IllOIIlt&UlSltd. tligetll!n.ltl1.~
<br />Inllrest In raslllCl IIltIlDI. Ilu been fully IltiSfi<<l or his
<br />become lagllly ulltlllarcsalllt: or
<br />l2J Bond ACCtllIId. Thtrt Is 1umlshtd to llII ScrItITy IIll'l
<br />ICClpl1Cl by nlm a bolllllllll is CllIlllltlontClll;lOllt'he JlIymenl oT
<br />lhe Imounl ISS"IId. toglthtr wIII1 all InlalBt In ftSl)et'l
<br />1:W1ID!. wllllln lilt time preserilllcl by law (intlll~~ IllY
<br />extenslDn of such time). anlllhl1 is in .a:c!Cancellli", Jut!>
<br />requlremlnts rellting 10 lerms. condltJons.allll fMn oTt1'lt bont!
<br />Ind SUI1t1es thereDn, as mlY be SllKlfl&lll!y Jut!> ~ul&!iDns.
<br />
<br />Sec, 6103. Confidentiality and Oi5-
<br />closure of Returns and Return In-
<br />formation.
<br />{klDllCIoIurt of Certain R.tumnnd
<br />Return fnfonnatlon For To Administration
<br />PUrpoHl. -
<br />
<br />(21 O,sclosure ot amoun1 01 oulsUMmQ "en .Il. nOTICl!'t.'
<br />lion has been f!led pursuar.l tlJ ~!'cljon 6..'\."J./t, ~l";~ .amOl,;l!1llot ~!'lt
<br />oulstandmg obligation seCllred by suen lien may lle OlS<:losee to
<br />any psrson who furnishes satisfaclory written el',denClllhit lie
<br />has a rlghl In the properly ~ubjecl to such I,en or Intends to
<br />oblaln a IIghl In such propenl'
<br />
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