If Ibought a foreclosed home at end of September, would I be responsible for paying all of the taxes at the end of the year?
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If Ibought a foreclosed home at end of September, would I be responsible for paying all of the taxes at the end of the year?
Asked on September 22, 2010 under Real Estate Law, Texas
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
At the end of the year, you should only owe a pro-rata amount. The amount of taxes would be from the date you purchased the house in September through December 31. The bank or other party from whom you purchased the foreclosed home should be responsible for the 2010 taxes prior to your purchase.
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