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re: Property Tax Situation
Posted on 2/18/13 at 7:49 pm to rmc
Posted on 2/18/13 at 7:49 pm to rmc
Nothing was done wrong at closing. I decided tochallenge the assessment after the closing. The assessor agreed to lower the assessed value based on the sales price. Am I legally responsible to the seller to pay him the difference in the taxes?
1
Posted on 2/18/13 at 8:43 pm to tigerrocket
quote:
Nothing was done wrong at closing.
I'm sure there wasn't. But taxes go up and down all the time regardless of the buyer's actions. We (meaning the title co. I work for) have an agreement that specifically says you will pay the difference to the seller. Also, the information may be included in the body of the cash sale or deed. Read over your closing docs. I'm unaware of any particular point or theory of law that says you are required to pay him the difference. Maybe unjust enrichment. Morally, I don't think there is any question.
This post was edited on 2/18/13 at 8:45 pm
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