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QUESTIONS: 1. If I attach equipment on which the Small Business Administration (SBA) shows a mortgage for personal property tax and without any knowledge of the SBA security interest I sell the property at a tax collector's sale, would this in fact wipe out the mortgage or security interest that SBA would have? 2. Does the priority of a local lien for taxes that is superior to a mortgage held by SBA extend to interest or penalty for any delinquent tax?

SUMMARY: A local lien for ad valorem taxes on personal property has priority over a mortgage lien held by the Small Business Administration in…