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Old 02-25-2009, 12:26 PM
 
Location: Edgewater nj
132 posts, read 245,977 times
Reputation: 55
Default Can the city impose the liability on me?

Prior property owner owes omitted assessment tax which wasnít available after I closed the property. Now that the prior owner is in bankruptcy, the city is charging me the amount. I was told, if I do not pay, they would put a tax lien on it. My lawyer has sent a letter to the sellerís attorney but no reply. Any thoughts? Can I go after the title insurance co if the seller is not responding?
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Old 02-25-2009, 12:38 PM
 
1,529 posts, read 2,848,716 times
Reputation: 428
I don't know - but your lawyer should be able to answer this question for you in a few minutes. I would definitely suggest speaking with him about it. It sounds like you should have some recourse.
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Old 02-25-2009, 12:52 PM
 
379 posts, read 705,878 times
Reputation: 194
Agree about having your lawyer handle it. i'm no expert, but i would think that title insurance should respond to something like this. here's the wiki definition:

Quote:
[Title Insurance] is meant to protect an owner's or lender's financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.
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Old 02-25-2009, 03:47 PM
 
Location: Stewartsville, NJ
7,577 posts, read 14,462,446 times
Reputation: 1176
Quote:
Originally Posted by balancesheet View Post
Prior property owner owes omitted assessment tax which wasnít available after I closed the property. Now that the prior owner is in bankruptcy, the city is charging me the amount. I was told, if I do not pay, they would put a tax lien on it. My lawyer has sent a letter to the sellerís attorney but no reply. Any thoughts? Can I go after the title insurance co if the seller is not responding?
I would... that's why you have it
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Old 02-26-2009, 05:46 AM
 
1,042 posts, read 1,823,177 times
Reputation: 577
Default Had a situation............the town was only taxing us on the house and not property?.........

Would title insurance have helped.........we were told by town we owed them 9000@ for back property taxes they didn't collect.......had something to do with the township and the final inspection........our mtge company pd the tax and then turned @ and charged us with mtge pymnt........also wondering if we would currently have a claim with the title company.....
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Old 02-26-2009, 08:53 AM
 
Location: Nashville, TN
2,869 posts, read 5,948,157 times
Reputation: 616
Quote:
Originally Posted by deeds View Post
Would title insurance have helped.........we were told by town we owed them 9000@ for back property taxes they didn't collect.......had something to do with the township and the final inspection........our mtge company pd the tax and then turned @ and charged us with mtge pymnt........also wondering if we would currently have a claim with the title company.....
Speak to your attorney. Also if you want you can go to Lawguru.com and ask this question for free, You will have lawyers from NJ answering your question.
Diane G
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Old 02-26-2009, 09:18 AM
 
Location: Jersey Shore
824 posts, read 1,478,318 times
Reputation: 279
Did your closing attorney do a municipal tax search on the property prior to closing? This search will provide a listing of any unpaid tax payments, unpaid sewer payments, open building or plumbing permits, and any potential added and/or Omitted Added tax assessments.
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Old 02-27-2009, 08:44 AM
 
Location: Edgewater nj
132 posts, read 245,977 times
Reputation: 55
Quote:
Originally Posted by wileynj View Post
I would... that's why you have it
The title insurance co told me that the omitted assessment tax is excluded from the policy.

My attorney confirmed that and told me I would have to file a claim against the seller and I would need to obtain a bankruptcy lawyer to do that.

Well, welcome to America ...
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