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Do you have to pay current property taxes on property that has been quitclaim deeded before it can be recorded?
Wiki User
∙ 11y ago
In Massachusetts, as in many states, the recorder in the land records has no interest in whether property taxes are owed. Their only obligation is to take the deed in and make it part of the public record informing the world that the property has a new owner.
Before a buyer records a deed, their attorney should have the title examined for any outstanding liens and obtain a certificate of municipal liens from the town that lists any municipal assessments that are due. The property taxes are apportioned so that the seller pays the taxes until the transfer is made.
A check for any delinquent taxes is very important. A town has a statutory period of around three years to reach out and take property for non-payment of taxes after it has been sold to a new owner. That means that you could "own" your home for three years thinking everything is fine. The town could send you a notice that the property has been taken for non-payment of taxes by the former owner. The amount due would be increased by interest, costs and late charges. You would have no choice but to pay the bill in order to redeem your property.
So make sure there are no back taxes due before the closing.
Wiki User
∙ 11y ago
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Can you file property taxes for the last two years?
You mean pay....any payment of property taxes is applied to the earliest tax due, and interst and penalties, before current ones.
A firm has a current assets of 800000 current liabilities of 600000 The firm uses 200000 of its cash balance to pay off a current liabilities Calculate the current ratio before and after this?
Current ratio before payment = 800000 / 600000 = 1.33 Curren ratio after payment = 600000 / 400000 = 1.5
Are adjusting entries entered into the general journal before they are recorded in the work sheet?
false
The posting reference should always be recorded in the journals post reference column before amounts are recorded in the ledger?
I always did the ledger first and then went from ledger to journal.
Can you get your money back if you pay someones delinquent taxes and they decide to come back and get the property before a years time?
The owner will have to reimburse you in order to regain control of the property.
How long does a quit claim take?
gifted property had taken back 2 years before
If ex husband signed the property over to you by quitclaim deed are his liens still on property?
Yes. The liens are attached to the property. You should insist that the liens be paid before the transfer.
Who owns a property if someone sold it to you but he had quitclaimed it to someone else a few months earlier?
If the quitclaim was not recorded properly but YOUR transaction was, you own it. * If the property did not have a clear title before it was sold, the transaction is null and void. The buyer should contact an attorney, as such a matter is likely to result in lengthy and expensive litigation.
Can property owned by a couple be protected from creditors liens by signing a quitclaim deed to one spouse Illinois?
You must seek the advice of an attorney before executing any deeds. You may already have some protection from creditors if you own the property as tenants-by-the-entirety. By executing a deed you may leave the property more vulnerable to liens that have been recorded. There are prohibitions against conveying property to avoid creditors.
Can you sell house in ga with unrecorded quitclaim deed?
If the deed is unrecorded then you will remain the record owner and any liens or other encumbrances recorded against you will affect the property. The property will remain vulnerable to your creditors and the property taxes will be assessed against you. The world doesn't know the property has a new legal owner until the deed is recorded. If you die before the deed is recorded the deed may be deemed invalid in some jurisdictions. See related question link.If the deed is unrecorded then you will remain the record owner and any liens or other encumbrances recorded against you will affect the property. The property will remain vulnerable to your creditors and the property taxes will be assessed against you. The world doesn't know the property has a new legal owner until the deed is recorded. If you die before the deed is recorded the deed may be deemed invalid in some jurisdictions. See related question link.If the deed is unrecorded then you will remain the record owner and any liens or other encumbrances recorded against you will affect the property. The property will remain vulnerable to your creditors and the property taxes will be assessed against you. The world doesn't know the property has a new legal owner until the deed is recorded. If you die before the deed is recorded the deed may be deemed invalid in some jurisdictions. See related question link.If the deed is unrecorded then you will remain the record owner and any liens or other encumbrances recorded against you will affect the property. The property will remain vulnerable to your creditors and the property taxes will be assessed against you. The world doesn't know the property has a new legal owner until the deed is recorded. If you die before the deed is recorded the deed may be deemed invalid in some jurisdictions. See related question link.
Is a quitclaim deed valid if not recorded and the grantor dies it has been witnessed dated and notarized.?
You need to consult with an attorney who specializes in probate and real estate law in your area. Deeds recorded after the death of the grantor can create title problems. There may be different practices in different jurisdictions. A title company may require some declaratory action to quiet title before it will issue any policies on the property. That means the expense of a court action that results with a court order recorded in the land records.
If you own the property free and clear Can you quitclaim deed your house to show both spouses own it before filing chapter 7 Or do you have to leave it in only the original spouses name?
The "quitclaim" does not establish ownership or automatically create new ownership of the house. The only way to add another name to the ownership deed is to refinance the home mortgage.
In Idaho your parents own a home and property They are going to quitclaim that over to your daughter Does the Grantee have to be a certain age and does this put the property in your daughters name?
If your parents quitclaim their property to your daughter then she would own the property. If your daughter is a minor you should seek the advice of an attorney before allowing such a transfer. When a minor owns real estate a guardian must be court-appointed to handle any issues regarding the real estate. It could not be mortgaged or sold without the guardian's, and court's, consent. The parent's cannot automatically act for the child regarding real estate owned by a minor.
If you sell your property and deliver a quitclaim deed at the closing can your creditor still record a lien against the property?
You have asked a somewhat complicated question.The following is general information only. You should consult with an attorney who can review your situation and explain your rights and options under your state laws.If you know you have creditors and transfer your property to a friend or family member for a nominal consideration the court can void that deed if the conveyance is determined to be a fraudulent conveyance in order to avoid creditors.If you sell the property and your creditor manages to record a lien before the buyer records their new deed, the property will be subject to the lien.If you have creditors and you decide to sell your property to a third party for fair market consideration before any liens are recorded, you will manage to elude your creditors as to their ability to take the property. As long as no liens have been recorded prior to the recording of the new deed the creditors will have missed their chance to record liens against the property.
Can joints be broken?
Yes a joint tenancy can be broken. You prepare and execute before a notary public a quitclaim deed to yourself. You record the quitclaim deed with the County Recorder in your county. You do not have to inform the other party or have a discussion before this happens.
Can joint tenancy be broken?
Yes a joint tenancy can be broken. You prepare and execute before a notary public a quitclaim deed to yourself. You record the quitclaim deed with the County Recorder in your county. You do not have to inform the other party or have a discussion before this happens.
Can you quitclaim deed a house that is owned by siblings through inheritance but only one sibling is doing the upkeep of the property and land taxes?
Only the owner of the house can sign a quitclaim deed. For instance, if the siblings wanted to, they could each quitclaim their share of the house to the one who is doing all the work. However, the one who is paying taxes and doing work can put liens on the property so that his/her money will be returned if and when the house sells, before any profit is split among the siblings. Any receipts and paperwork should be maintained and copied so that there is back up to the lien. Save copies of cancelled checks.
