Who is responsible for delinquent property taxes in a deed in lieu of foreclosure?
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Who is responsible for delinquent property taxes in a deed in lieu of foreclosure?
No bank is involved. The buyer is delinquent.
Asked on March 1, 2012 under Real Estate Law, Washington
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Under state statutes of all states in this country, delinquent property taxes are the responsibility of the owner and all lien holders on the property. The buyer would be responsible for paying these proeprty taxes. If he or she fails to do so, then the property can be set up for a tax sale (auction) by the county tax assessor where the owner may lose the property.
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