jaki01
2011-07-08 18:56:41
- #1
I am interested to know who has to pay the property tax for a piece of land after the land has been sold mid-year?
I am aware that property tax is an annual tax, i.e., normally the person who owns the land as of January 1st of the year pays the property tax for the entire year.
Does this change if the seller has agreed with the tax office to pay the property tax in installments and argues that the buyer has to pay the last two installments of the year?
Does the wording in the notarized contract "In view of the subject matter of the contract, possession ... the benefits, the burdens ... transfer to the purchaser on the day on which the purchase price ... has been fully paid" also apply to the property tax, i.e., according to the notarized contract, does the buyer then have to pay the property tax for the remainder of the year after acquiring the land?
What is the usual procedure, aside from the legal situation? Does the buyer generally take over the property tax for the remainder of the year?
Thank you very much for your answers!
I am aware that property tax is an annual tax, i.e., normally the person who owns the land as of January 1st of the year pays the property tax for the entire year.
Does this change if the seller has agreed with the tax office to pay the property tax in installments and argues that the buyer has to pay the last two installments of the year?
Does the wording in the notarized contract "In view of the subject matter of the contract, possession ... the benefits, the burdens ... transfer to the purchaser on the day on which the purchase price ... has been fully paid" also apply to the property tax, i.e., according to the notarized contract, does the buyer then have to pay the property tax for the remainder of the year after acquiring the land?
What is the usual procedure, aside from the legal situation? Does the buyer generally take over the property tax for the remainder of the year?
Thank you very much for your answers!