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When there are four siblings to an estate but only one pay the taxes on the property do they get the same amount when the property is sold?
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∙ 11y ago
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Do you have to pay capital gains taxes on an inherited property that was sold and inheritance taxes were already paid on the estate?
On the amount the property went up in value from the value used in calculating the estate tax
Can an executor of an estate remove heirs from a property that is designated to be sold in the will if those heirs have paid the property taxes?
Yes, if the property was owned by the decedent and the Will provides that it be sold. In that case, the executor must carry out the provisions in the Will unless the provision is changed by a court order. It is assumed that there are other heirs besides the ones who paid the taxes on that property. The heirs who paid the taxes can file a claim against the estate for the amount they paid in taxes and they can offer to buy the property from the estate if they wish to keep it. They should speak with the attorney who is handling the estate.
Is real estate tax property tax?
Yes real estate taxes are also referred to as property taxes.
Do you pay estate taxes on property left to you?
Generally the taxes are paid by the estate.
Do you pay higher taxes on your house depending on your occupation?
Not normally the property taxes (real estate tax) is usually based on a percentage amount of the local assessed value of the property.
What happens to back taxes if the estate has no money?
If they are property taxes, there is a lien on the property. In those cases the property has to be sold to settle the debts. If there are no assets in the estate, the taxes won't get paid.
What does real estate taxes mean?
The term "real estate taxes" means the taxes on the property that you own. Your real estate is the property itself. This tax is generally payed annually to your county.
Property taxes?
Can I get help to pay my real estate taxes?
Can you be reimbursed for property taxes from estate?
If the property is in the estate, the estate is responsible for them. You are entitled to be reimbursed if you have paid them for the estate. Submit your claim to the executor.
Who pays the property taxes on life estate?
The owner of the life estate.
Do I have to pay estate taxes on inheritance property?
Yes, you will have to pay estate taxes on inherited property. In the United States an estate taxes is always imposed on the transfer of the "taxable estate" of a deceased person. Have already paid state taxes for CA. in FEB. Are there going to be more? I've paid taxes, is there aditional taxes included.
Is a remainder man of an estate required to pay property taxes for the property?
Once they have inherited the property, yes. Until then the estate is responsible.
