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Is there an account in the Boston area that specializes in property back taxes?
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∙ 12y ago
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Do you list property tax as factory overhead?
No, property taxes would not be classified as factory overhead...property taxes get paid under an expense account
What is an escrow account used for?
Escrow account is used to pay the taxes and insurance of the property
An account used by mortgage lenders for the safekeeping of the funds accumulating to pay next year's property taxes and hazard insurance is called an escrow account?
True, escrow account.
Can the State of Minnesota or the IRS take money from a bank account that is not a joint account to pay for a spouse's back taxes if the one who has the account does not owe taxes?
Minnesota is not a community property state, so the answer is generally no. However, if the funds are in the account as a result of a fraudulent conveyance to evade payment of taxes, action could be taken to recover them. Errors do happen, of course. As long as you are married to someone who does not pay their taxes, you do have to worry.
What type of account is held by the mortgage lender and used to cover property taxes and homeowner's insurance?
(Escrow:) funds held in an account to be used by the lender to pay for home insurance and property taxes. The funds may also be held by a third party until contractual conditions are met and then paid out.
Do you list property tax as factory overhead?
No, property taxes would not be classified as factory overhead...property taxes get paid under an expense account
What is an escrow account used for?
Escrow account is used to pay the taxes and insurance of the property
Who pays for property tax?
Usually the owner of the property is the one that pays the property taxes on the owners property. Some time the mortgage company will pay them from a escrow account but the money that is in the escrow account comes from the property owners monthly payments.
What is a mortgage escrow account?
An escrow account associated with a mortgage is an account that is maintained by the mortgage holder and funded by the mortgagee. Part of the monthly mortgage payment goes into this escrow account to pay for property insurance and property taxes.
How does paid off home affect your property taxes?
Generally, property tax is not determined based on a mortgage. If you owe a mortgage on your home or if it is paid in full, the property taxes will be the same. The difference for you is that you will need to track and pay the taxes yourself, instead of letting the mortgage company pay the taxes from your escrow account.
What type of account is held by the mortgage lender and used to cover property taxes and homeowners insurance?
escrow
What provides the funds needed for expenses such as property taxes homeowners insurance and mortgage insurance?
Escrow account
An account used by mortgage lenders for the safekeeping of the funds accumulating to pay next year's property taxes and hazard insurance is called an escrow account?
True, escrow account.
When a house is bought and is only on the wife's name as a gift from her parents does the husband have any rights over the property after a divorce?
The answer depends on the details: when the house was purchased, whether it became marital property by virtue of the husband paying for improvements, taxes, repairs, maintenance, etc., state laws, whether you live in a community property or separate property state, etc. You need to consult with an attorney who specializes in family law in your jurisdiction.The answer depends on the details: when the house was purchased, whether it became marital property by virtue of the husband paying for improvements, taxes, repairs, maintenance, etc., state laws, whether you live in a community property or separate property state, etc. You need to consult with an attorney who specializes in family law in your jurisdiction.The answer depends on the details: when the house was purchased, whether it became marital property by virtue of the husband paying for improvements, taxes, repairs, maintenance, etc., state laws, whether you live in a community property or separate property state, etc. You need to consult with an attorney who specializes in family law in your jurisdiction.The answer depends on the details: when the house was purchased, whether it became marital property by virtue of the husband paying for improvements, taxes, repairs, maintenance, etc., state laws, whether you live in a community property or separate property state, etc. You need to consult with an attorney who specializes in family law in your jurisdiction.
Can the State of Minnesota or the IRS take money from a bank account that is not a joint account to pay for a spouse's back taxes if the one who has the account does not owe taxes?
Minnesota is not a community property state, so the answer is generally no. However, if the funds are in the account as a result of a fraudulent conveyance to evade payment of taxes, action could be taken to recover them. Errors do happen, of course. As long as you are married to someone who does not pay their taxes, you do have to worry.
What type of account is held by the mortgage lender and used to cover property taxes and homeowner's insurance?
(Escrow:) funds held in an account to be used by the lender to pay for home insurance and property taxes. The funds may also be held by a third party until contractual conditions are met and then paid out.
Which type of account is held by the mortgage lender and use to cover property taxes and homeowners insurances?
Some mortgage contracts contain a provision for an "Escrow Account".
