IRS Tax Levy-Available Funds to Hold. Currently, when we receive a IRS Tax Levy, we look at the Social Security Number or EIN Number on the Levy and the name. We then research this information in our system to see if they have an account(s) and what funds are available to hold on the day the Levy is presented. We base this on the Name and EIN or Social Security Number provided on the Levy.
Adverse Possession refers to the legal process of obtaining property ownership through recognition of long-standing occupation and use. Often, adverse possession is used to âclearâ a land title against a competing claim of ownership. The laws governing adverse possession are found at Sections 78B-2-208 to -219 of the Utah Code. âAdverseâ usually means contrary to another personâs claim or interest in the property. If one person can claim title to land, but does not use or occupy it, another person may establish an ownership claim by actually using or occupying it, and paying taxes.
This process is referred to as Ownership Attribution. In addition to family relationships, stock ownership by corporations, partnerships, estates, or trusts can also result in Ownership Attribution. Ownership Attribution is referred to as Constructive Ownership. WARNING: Attribution and reattribution rules are complex.