Short sales: short sales assistance may be available for your client.

• Position: FTBNEWS

With many people facing financial difficulties, distressed homeowners are trying to sell their homes for less than the loan balance in short sales. Sometimes, during these transactions, there may not be enough funds in escrow accounts to pay our recorded state tax lien in full. If this happens, the FTB may be able to assist the taxpayer with a Partial Release of Lien.

A Partial Release of Lien releases a specific piece of property from a recorded state tax lien. However, it does not release the...