Posted on: 23rd Aug, 2010 01:50 pm
My brothers & I inherited real estate property, we have for sale and a buyer but one heir will not sign to sell. When taxed are due on this property in Jan 2011 do you know if the taxes will be divided by 3 or one bill and does the executor continue to be responsible for payment? Also if I do not pay my 1/3 of taxes due in Jan. will I have to by law forfeit my ownership? Thank you We are Texas
Hi elizabethmedina!
Welcome to forums!
Though there are three heirs to the property, yet the tax bill would be a single one. The heirs can divide the bill amongst themselves and pay it off. If you do not pay your share of the tax bill, then you may not have to forfeit your ownership but the tax department can place a lien on your property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Though there are three heirs to the property, yet the tax bill would be a single one. The heirs can divide the bill amongst themselves and pay it off. If you do not pay your share of the tax bill, then you may not have to forfeit your ownership but the tax department can place a lien on your property.
Feel free to ask if you've further queries.
Sussane