In Minnesota, if taxes are not paid by the due date, penalties accrue on the late payment. On January 2nd of the following year, the unpaid taxes are considered to be delinquent. The penalty rate increases and interest is imposed on the unpaid tax, penalty and fees.
Each year the county starts delinquent tax proceedings against newly delinquent properties. The county will hold an auction sale to dispose of properties forfeited to the state after 5 years of non-payment of taxes (3 years for businesses).
No, the owner is identified by recorded warranty deed. There are all type of rental agreements, if you agreed to pay the property taxes, it's just a part of your rent. Net leases, net/net, or triple net are good leases to get if you are the property owner. Now, if the taxes are unpaid and on April 15, you go pay them through a tax certificate sale, after two years, you are eligible to take it 'to the courthouse steps' where you can bid against others for rights to the property. Oftentimes though, all you get is your money back with the 5%+ interest. In order to get the certificate, you have to bid what interest you want on your money, in my county, the minimum is 5%. So, if you really want the property and don't mind waiting, you can bid 0% because you are guaranteed 5%. It varies from county to county and state to state, but you can check it out with your county tax collector. Although if you are a tenant and just pay the property taxes, this does not constitute ownership.
If the rental property is residential rental property, depreciate over 27.5 years. If this is non-residential rental property, depreciate over 39 years.
A professional abstractor (person who searches county, state and municipal records) can provide their services to title agencies. The method of their delivery is up to what works best for them, whether it be fax, overnight or online/electronic delivery. Most title agencies insist that their abstractors have several years experience in the business, since each state, city or county's record keeping methods vary from state to state. An abstractor typically goes to the county clerk or munipality to research the property. Some states/counties have their records available online, either free to the public or by subscription. It is important that the abstractor is thorough in their research of a property.
Property tax credit, or any type of tax return or credit, can typically only be claimed within the first three years of the relevant year. Unfortunately, there isn't any statute of limitations the other way around, and property taxes can still be collected after many years.
3 years after first delinquency
It is normally going to be three years in Alabama. If it involves state or county property, it would be six years.
Depending on the specific laws in the jurisdiction where the property is located, it may be possible for someone to pay off the back taxes and potentially claim the property through a process known as adverse possession. However, the requirements and conditions for adverse possession vary widely by location, and seeking legal advice is crucial in such situations to understand the options available.
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