Form 4-5

Note: When preparing this form, the attorney should carefully review Tex. Prop. Code §§ 51.0001, 51.0025, and 51.0075 and Tex. Bus. & Com. Code §§ 3.203 and 3.301 to ensure any reference to a per­son accurately describes the role the person holds or performs in the context of a foreclosure proceed­ing, e.g., references to “noteholder,” “beneficiary,” “owner,” “lender,” “obligor of the debt,” “mortgagor,”  “mortgagee,” or “mortgage servicer” as appropriate.

Letter to IRS Requesting Waiver of Right of Redemption

[Date]

Internal Revenue Service

Attention: Collection Advisory Group Manager

[See appendix A in this manual for appropriate address.]

Re:   Request for waiver of right of redemption
Notice of nonjudicial foreclosure sale on property
Taxpayer: [name and address]
Federal I.D. no.: [number]

[Salutation]

This letter is notice as required under Internal Revenue Code section 7425(d) that prop­erty encumbered by a deed-of-trust lien granted by [name of mortgagor] was nonjudicially foreclosed on pursuant to the authority granted in the deed of trust described below. We, as purchasers of the property referred to below, request waiver of the Internal Revenue Service’s right of redemption of the property.

1.Person on Whose Behalf Information Is Submitted.      The name and address of the person on behalf of whom this notice is submitted is [name and address of purchaser at fore­closure], telephone number [phone number]. The above-named creditor is the current owner and holder of the deed of trust and the promissory notes secured by it. A copy of the deed of trust is enclosed for your information.

2.Description and Location of Property.      A detailed description, including location of the property affected by this notice, is included in the enclosed copy of the foreclosure sale deed.

3.Date, Time, and Place of Foreclosure Sale.      The date, time, place, and terms of the foreclosure sale are as follows:

Date: [date of sale]

Time: [time of sale]

Place: [location of sale]

Notice provided to: [name and address]

Terms of sale: To the highest bidder for cash, subject to the right of the deed of trust
beneficiary to bid credit against the debt secured by the deed of trust.

Purchaser: [name of purchaser]

Purchaser’s address: [address of purchaser]

Purchase price: $[amount]

4.Debt.      The approximate amount of the principal obligation, including interest, secured by the lien sought to be enforced and a description of the other expenses (such as legal expenses and selling costs) that may be charged against the sale proceeds are as follows:

Legal and Sale Expenses: Estimated range of expenses is from $[amount] to $[amount].

5.Tax Lien Description.      A copy of each notice of federal tax lien potentially affecting the property to be sold is enclosed.

6.Fair Market Value of Property.      The estimated fair market value of the property is $[amount] plus closing costs.

7.Offer in Settlement and Release of Federal Tax Liens.      The amount offered in set­tlement and release of the federal tax liens affecting the property is $[amount].

Under penalties of perjury, I declare that I have examined this application (including any accompanying schedules, exhibits, affidavits, and statements) and to the best of my knowledge and belief it is true, correct, and complete.

Sincerely yours,

   
[Name of purchaser]

Enc.