February 27th, 2012 by Questions
CRA filed a lien against our home for $31K personal personal taxes my husband owes to them. The house is in both or names and I owe no taxes to them and in good credit standing. He filed a proposal after the notice and was told it’s to late to reverse the CRA lien. How can I protect myself and how will this affect my credit. i would like to sell the home and repurchase another home in my own name.
Posted from: Ontario
One Response to “CRA Lien”
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February 27, 2012 at 7:50 am, A licensed trustee said:
By registering a lien on the house, CRA made themselves a secured creditor, at least to the extent of your husband’s share of the hosue equity. If sell the house now, when the deal closes the CRA lien will be paid before any funds are released to you or your husband. This is something you need to tell the lawyer hanbdling the sale for you BEFORE you list the property.