Posted by Rich-CA on May 12, 2008 at 20:47:51:
there needs to be a payment of those taxes. If nobody pays, then the liens follow the property until they are. Refuse to sign if the documents do not show this. Also check to make sure there is no exclusion from the Title Insurance for these liens. If the liens are not paid or Title excludes them, then send the whole package back unsigned and inform the seller they must clear all liens first.
California Real Estate Law - Property Tax - Posted by Dank Dupree
Posted by Dank Dupree on May 08, 2008 at 22:17:27:
Question…
My agent says that it is California State law that the seller must pay past due property taxes before the title can be transfered, we’re about to close and the property tax website still shows it as due. Is this an actual california state law, or is it possible that my wife and I are going to get stuck with the past due taxes?
Re: California Real Estate Law - Property Tax - Posted by Christina $andie Gonzalez
Posted by Christina $andie Gonzalez on July 10, 2008 at 10:58:21:
Hello
do you have to pay taxes on a property that you will get after yours patners die? It is under $750,000 ?
Re: California Real Estate Law - Property Tax - Posted by Dank Dupree
Posted by Dank Dupree on May 12, 2008 at 13:06:01:
Is there anything specific I should be looking for in the contract or documents that would clearly state the taxes won’t be passed on to me?
Re: California Real Estate Law - Property Tax - Posted by BTI
Posted by BTI on May 10, 2008 at 12:16:52:
Dank
Your agent doesn’t know what he is talking about and is giving you false info. Tell him to provide the statute that sets up that requirement, there isn’t one,
I’ve bought properties with outstanding taxes in California for years, they just need to be paid before the property goes to a tax sale and wipes you out. The title company will just list them as a exclusion, however a institutional lender will want them up to date.
Tell your agent to go back to school, and then find a new one.
BTI
They just need to be cleared up but it - Posted by Rich-CA
Posted by Rich-CA on May 09, 2008 at 12:28:34:
can be done when you close escrow. The funds can come from either side and that is up to negotiations. The taxes get paid by your escrow officer as part of their closing process.
State law requires the owner of record, and if you are the seller, that would be you, must pay their property taxes. Paying out of escrow when you sell is still paying.
Re: California Real Estate Law - Property Tax - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on May 09, 2008 at 12:13:35:
if the taxes are due, they’re due. The owner of record is responsible for their payment.
That being said, it is possible to negotiate who ultimately pays the taxes, especially if the sale is particularly atractive to one party (i.e., buying from a distressed seller at a discount). I’ve purchased many, many properties from sellers who have not paid the back taxes, leaving the task to me. Of course, I’m not going to pay for the seller’s debt and other old baggage unless it’s profitable for me to do so.
Lastly, even if the buyer agrees to let the seller’s delinquent taxes remain on title in order to close, it’s highly unlikely that the buyer’s lender will permit the taxes to remain and jeopardize their loan. I guess it’s possible if the sale was entirely financed by seller carryback.
So, I keep my side of the street clean, prefer not to have to wash other people’s dishes or pick up their trash, or pay their bills UNLESS it’s extremely profitable for me to do so.