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Real estate
Risk involved in non-compliance of real estate tax payment
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[QUOTE="Augusta, post: 283548, member: 25283"] As a homeowner you are expected to pay property taxes to your state or county tax collector which is usually where your home or property is situated. Not doing this comes with some risks for you and your home which would be discussed below. The obvious truth is always that If you do not pay your property taxes, you could lose your home. This is one risk you wouldn't want to take for your home. When you don't pay your homeowners tax then the state or county can have a lien against your property for the amount of taxes you are owing. The state or county have the right to sell the lien to a tax buyer that will pay the taxes to the county But even when your property taxes are sold, you are still remain the home owner. Now what would be expected to do is to redeem, the delinquent taxes, all the penalties and all the associated costs, to the county clerk within 30 months of the tax sale. Within the 30 months if there's no compliance of payment, then the the tax buyer have the option of approaching the court for a tax deed. If the tax buyer obtains the tax deed, and records same with the county recorder of deeds, the person become the legal homeowner and the homeowner will be evicted. So it is important to. comply with payment of homeowners tax. [/QUOTE]
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Risk involved in non-compliance of real estate tax payment
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