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What happens when inherited property is sold for taxes?
If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.
How can you acquire a 25 x 100 lot if there is 20 years of property tax owed on it and no heirs can be found?
I dont' know how it is in all localities, but here it is a __ step process.The county or state treasurer must declare the property taxes are in arrears. Then the property is listed in the sheriff's auction and anyone willing to pay the full back taxes then becomes the legal title holder. That has happened a number of times here to $150,000 homes with families still living in them who owed a couple years back taxes... The entire property was purchased for less than $8k.Good luck on the property -The actual procedure will very from state to state. California, the auction does not need to be conduct by a Sheriff and the property can be auctioned off after 5 years of delinquent property taxes. The best thing to do is contact tax collector or county assessor to about local procedures.Local lawsYes, it depends upon local laws and regulations. The tax collector may have to meet certain standards of diligence in attempting to locate and notify the current owners, and attempting to collect, prior to filing a tax deed to the municipality. After that, the local laws may permit public sale (auction) of no more than a quitclaim deed, or may provide a "bargain and sale deed" if the payment covers the delinquent taxes. Please be aware the most property acquired by tax auction is deeded to the new owner with a quitclaim deed which does not provide the same level of ownership and protection as a normal warranty deed.
What happens if mortgage is paid off but property taxes are owed in NJ?
The same thing happens as in any other state: If the property taxes are not paid, the city or town can take possession of the property by virtue of a tax taking. Such takings are governed by state law. The mortgage being paid makes no difference. There is considerable truth in the old saying that there is "Nothing certain but death - and taxes."
What happen to your property tax once you pay off your mortgage?
your property taxes are due regardless of whether or not you have a mortgage. If you pay cash, the taxes are based on the purchase price... same as if you financed it. In some states, when you buy a house, there is a limit on how much the tax roll assessed value can go up. For example, it is capped at 3% in Florida. however, it is meaningless because if millage rates are raised, taxes will still go up.
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.
How do you remove your father in laws name off the title of your home?
He must execute a quitclaim deed with you as the grantee.
Can you force someone to take their name off a quit claim deed?
Yes, if by signing the quitclaim deed they transferred all their interest in the property to a new owner.Yes, if by signing the quitclaim deed they transferred all their interest in the property to a new owner.Yes, if by signing the quitclaim deed they transferred all their interest in the property to a new owner.Yes, if by signing the quitclaim deed they transferred all their interest in the property to a new owner.
How can I get my girlfriend's name off of our mortgage?
The simplest way would probably be to get her to sign a quitclaim to the property and refinance it in your name only.
What can you write off your taxes for an investment property?
I assume you mean property taxes. Yes, you can claim an itemized deduction on Schedule A.
How do I get my son's name off my deed and I live in NH?
If you conveyed your property to you and your son thn he has a half interest in the property. To get the property back into your name alone he would need to sign a quitclaim deed that conveys his interest to you.
My son is on the grant deed of my property. How can he write off taxes and interest on this property I do not file taxes, I'm on soc sec income?
Your son also has to be on the mortgage in order to be able to write off taxesv and interest on this property.
Indiana Tax sale property has a quitclaim deed?
Tax sale property has a quit claim deed. Any liens on the property, mortgages, from the previous owner will remain on the property. You would be responsible to pay off the lien or the lien holder would foreclose.
What happens when inherited property is sold for taxes?
If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.
You are on your parents deed can they take you off without your signiture?
No. You are a co-owner of the property. The only way your interest can be transferred back to your parents is by your executing a quitclaim deed.
Pay Mom's property taxes write off my tax return?
No.
My son rents apartment in San Pedro. He is on the grant deed of my property. Can he write off my interest and taxes on my property in Fullerton How can he do it?
He can if he is paying them and you have not claimed them already on your taxes.
What is struck off property?
Struck off property is real estate that is so overdue in property taxes that it is a burden on the government authority. It is usually sold or auctioned by the governing county, where the buyer will pay a reduced value, plus any owed taxes.
