who's responisble for paying delinquent property taxes on a home that has been foreclosed, the taxes are two years behind and the mortage company has retained the house. Thanks for any info. p.s I live in missouri.
2007-06-30 10:03:34 · 4 answers · asked by ladyyt62 1 in Business & Finance ➔ Renting & Real Estate
If the house is foreclosed on, the bank or mortgage company who forecloses will need to make sure the past property taxes are paid "before they can transfer title of ownership". This property needs to free of all leins and with good marketable title. Property taxes are considered a lein. All leins must be removed before a property can change ownership of title. This is usually disclosed in the contract.
2007-06-30 10:15:38 · answer #1 · answered by Busy Lady 2010 7 · 0⤊ 1⤋
You're actually asking 2 questions here. MO has both real property taxes and personal property taxes as anyone who lives in MO is well aware. As others have stated, the bank would become liable for the unpaid REAL property taxes.
However, any PERSONAL property taxes that you owe on vehicles, boats, trailers, livestock, etc. are not affected by any foreclosure on your home. You'd still be liable for those.
2007-06-30 17:25:00 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
When you buy foreclosed property, you will be responsible for taxes, read the title, see what liens property have, taxes the first one get pd.
2007-06-30 17:11:55 · answer #3 · answered by reality 6 · 0⤊ 1⤋
bostonianinmo said.
interesting information here:
http://www.foreclosureinfousa.net
2007-06-30 18:57:25 · answer #4 · answered by Anonymous · 0⤊ 0⤋