Banking Law Blog

The IRS may legally seize real or personal property in order to satisfy unpaid tax debt by imposing a levy on the taxpayer. Levies may also be imposed upon the taxpayer’s bank accounts, wages, and certain government payments.  If the IRS has already sent a Final Notice of Intent to Levy and a Notice of Your Right to a Hearing then the taxpayer has 30 days from the date of the notice to request a Collection Due Process (“CDP”) hearing. After a hearing,... Read More

California Homestead Exemption

As a financial institution with a first or second trust deed filed against the Debtor’s primary residence, you should be aware of the debtor’s right to a homestead exemption. The California homestead exemption is automatically applied to the primary residence of a debtor provided that the debtor has lived on the property continuously since the establishment of a lien. The amount of the homestead exemption is one of the... Read More