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When a home is foreclosed on who is responsible for paying property taxes?
Wiki User
∙ 17y ago
Well, if the bank has forclosed they are but can seek the monies from the new buyers. If you bought the tax certificate then you do.
Wiki User
∙ 17y ago
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What happens if you do not pay your property taxes while getting ready to have house foreclosed?
You will no longer be responsible. The bank will have to worry about that after they foreclose your home.
Are property taxes owed on a foreclosed property by the owner?
The current owner yes, not the one foreclosed on. (And the past owner owes the one that foreclosed for any tax that was due for the period that owner had it).
Do you still need to pay property taxes if home is foreclosed?
yes....
If you have not defaulted on your mortgage and your term is up can they foreclose?
If it's paid they have no interest however you can still get foreclosed if you are arrears in property taxes:(
Who pays real estate taxes on a reverse mortgage?
The owner of the home that still occupies the home and has the reverse mortgage is still responsible for maintaining the home and for paying the property taxes, and all other expenses in keeping the home in good condition.
What happens if you do not pay your property taxes while getting ready to have house foreclosed?
You will no longer be responsible. The bank will have to worry about that after they foreclose your home.
Is the buyer of a foreclosure home responsible for any back taxes still owed?
As a technical legal rule, the answer is that the buyer of a foreclosure home is not personally liable for back taxes that remain owed. However, the back taxes may well still serve as a lien on the property that can be foreclosed by the taxing authority. In other words, the government cannot make you pay the taxes, but they can take the property from you if the taxes are not paid. As a result, the real world answer is that the buyer of a foreclosed home is responsible for any back taxes still owed. Before you purchase foreclosed property, it is always a good idea to check the tax records to see if any back taxes are still owed. If they are, plan on paying them off as soon as possible. Unfortunately the new owner will still be responsible for the taxes. My friend got what she thought was a great deal on a split level until she got a bill for six thousand dollars back taxes. She was unable to pay so she lost the house.
Where can I get information about foreclosed homes for sale?
Information about foreclosed homes in your area will available at the county or city hall. Your local government will have information regarding foreclosed homes due to property tax information. You may also find homes that are available for purchase due to owner's lack of responsibility in paying property taxes.
Are property taxes owed on a foreclosed property by the owner?
The current owner yes, not the one foreclosed on. (And the past owner owes the one that foreclosed for any tax that was due for the period that owner had it).
Do you still need to pay property taxes if home is foreclosed?
yes....
Is the bank liable for Taxes and HOA fees on foreclosed homes in Florida?
The titled owner is responsible for taxes and assessments: if such an owner is a bank, the bank is responsible.
Is the executor responsible for paying all taxes on an estate?
The estate is responsible for paying all taxes. The executor is responsible for making sure that the estate does so.
Who pays the taxes when there is both a deed and a deed of trust?
Generally, the fee owner of the property is responsible for paying the property taxes. That would be the grantee in the deed of conveyance. In this case the 'deed of trust' is assumed to be a mortgage.
Are property taxes owed to the state from the owner when a property is foreclosed?
Property taxes are paid to local governments like counties, not states. If a property is sold at foreclosure auction, usually the county property taxes are paid first out of any proceeds from the sale.
If you are paying taxes on a property in Texas does that make you the property owner?
No, paying property taxes on a property does not make you the property owner. Only a properly executed deed naming you as the owner would make you an owner.
If the property in the irrevocable trust is sold who pays the federal and state income tax?
The trustee or the administrator of the trust or the beneficiaries would be responsible for paying the taxes that may be due when the property is sold.
If a property is sold who pays the property taxes?
The seller is responsible for all property taxes assessed for the period through the date of sale. The buyer is responsible for all property taxes thereafter. Remember in most states that property tax is paid in arrears which means you are paying for a time period of 3-6 months prior to the current date. On a HUD 1 closing statement those time periods and costs are clearly shown.
