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1099-OID #### SHERIFF SALE

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Does anyone know anything about the law of a sheriff sale, on a foreclosure of a residential property,

What does the sheriff need to complete a legal sheriff sale, what kind of documention is needed from the bank, i hurd they must have the original 1099-oid at the time of the sale, and if they dont, the sheriff must not complete the sale,

Does anyone know about the procedure and where can i find the law to back it up,

thank you,

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You didn't need to re-post this; you could have posted a "bump" in "answer" to the original thread below to bring it up the chain again.

A tax form regarding interest you will be receiving in the future on a note, bond, etc. has nothing to do with whether a sheriff can conduct a foreclosure sale.

What a sheriff would need would depend on the jurisdiction in question. You should be discussing with a local real estate attorney, or perhaps even the section of the sheriff's department that conducts the sale will have information for you.

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A form 1099-OID is a form used to report original discount interest (OID) to the IRS. It has absolutely nothing to do with foreclosure sales; indeed, most mortgages are not even OID instruments and thus a Form 1099-OID would never be issue for those. The laws for foreclosure are different in every state and you did not specify in what state you are located. This much I can tell you, however—a form 10009-OID is not a requirement for a foreclosure in any state. Consult a local attorney familiar with your state's foreclosure rules for help.

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Hi

I have a questions about the Sheriff Sales in Pennsylvania. What are the Sheriff Sales procedure for a sale may I ask? My email address is ####.com also I have another question aboutif your home was sold in Foreclosure sale to your same bank that you are buy it from is their a law agaist that may I ask? The Chase JP Morgan had my house and they sold it to a Inc. call Hamoesales and Did some checking on the address and it come up Chase JP Morgan Mortgage company yet at 3415 Vision Columbus ,Ohio 43219. Are they allowed to do this sale to their company?

Thank you, Robin

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