Assistance Please (local taxes and water bill) - Posted by Lyn

Posted by Jimmy on March 08, 2006 at 07:54:59:

You will inherit the property tax problem.

But the water bill?? Not in any place I have ever invested. Utility bills are the liability of the account holder, and in some places also the liability of the property owner. But that does not mean they attach to the property.

with this said, you may be in a weird place where utility bills can be attached to the property where the bills were generated. call a local attorney and ask

Assistance Please (local taxes and water bill) - Posted by Lyn

Posted by Lyn on March 07, 2006 at 19:07:31:

I had an offer from someone to gift me an urban property so that they can just get it off there hands. Problem --There are overdue water and tax bills totalling approximately $40,000 - current owner has simply been paying a minimum amount due for each. Currently has a tenant in the property that is not keeping it up very well, so it will need to be rehabbed.

The cost for rehab and payment of back taxes and water bill will leave no profit.

Does anyone have any suggestions about the back taxes and water bill? Is there anyway they can be written off if ownership is transferred?
Lyn

Re: Assistance Please (local taxes and water bill) - Posted by ken

Posted by ken on March 08, 2006 at 17:41:48:

I am in upstate NY and around here the water bills go with the property just like the taxes