I was looking into buying a home from a close friend when she confided in me the fact that she owes 5,000 in property taxes! How long would the city give her until they threaten to take over her property?!
2006-09-06 10:04:21 · 8 answers · asked by Suz E. Home BAKER 6 in Politics & Government ➔ Law & Ethics
Liens against a property are a common occurance. The delinquent property taxes and any 'other' liens against the property that the seller may have forgot about, or just forgot tell you about, is what the Title Company is there for. You would deduct the amount of the liens from the purchase price, and the delinquent fees are paid through escrow at the end of sale, but from the seller's funds. Use a real estate agent to assist you with protecting yourself with a large purchase of this nature.
2006-09-06 10:13:18 · answer #1 · answered by nothing 6 · 0⤊ 0⤋
I am sure it varies by state, but usually in two years time a notice is sent to the effect that if the taxes are not paid by a certain date then the property will be "sold for taxes" This means that by public auction usually at the county court house, the highest bidder can buy the home for the price of the tax. Now it is not his to occupy, he must give the owner (usually 2 years) to pay off the taxes plus interest, plus taxes accrued during the 2 year period. If no payment is made, then he pays off the property and it legally belongs to him.
2006-09-06 17:15:07 · answer #2 · answered by loufedalis 7 · 0⤊ 0⤋
Every state has its own procedure for selling property for taxes or for selling tax liens. Every property has an identification code for its local tax collector. Get the tax id# from your friend & either call or access the tax collector's web site for all details about taxes on the property. You can still buy the property, but the taxes & interest will be paid to the county out of the purchase price.
2006-09-06 17:28:10 · answer #3 · answered by Anonymous · 0⤊ 0⤋
tell your close friend that it would be cheaper for her to pay her delinquent property taxes than to suffer the blemish of tax liens on her credit report and the possible sheriff's sale of her property followed by a redemption period in which she will have to pay more than the initial 5K to keep her house.
2006-09-06 17:51:09 · answer #4 · answered by ? 6 · 0⤊ 0⤋
A couple of years usually. But it varies by city/country.
Kirby James Hensley never paid taxes. He invented the Universal Life Church and became its preacher. Sort of like L. Ron Hubbard and the Church of Scientology, only on a smaller scale. Ol' Ron never paid tax either.
2006-09-06 17:07:12 · answer #5 · answered by Anonymous · 1⤊ 0⤋
anyone can pay anyones property taxes,
if someone else pays your property tax three times in a row, it legally becomes your property
do yourslef a favor and just pay the taxes and get the house for cheaper.
2006-09-06 17:08:19 · answer #6 · answered by more_drama_than_paris_hilton 1 · 0⤊ 0⤋
Until they get caught. Then they lose the house, and no more property taxes.
2006-09-06 17:14:04 · answer #7 · answered by coragryph 7 · 0⤊ 0⤋
not sure but go to Wyoming not very many people have to pay very many taxes!!!
TJforever
2006-09-06 17:10:27 · answer #8 · answered by TJforever 2 · 0⤊ 0⤋