Legal Question in Real Estate Law in California
What can you do if your selling a home, you hold the note and the taxes are not being paid?
2 Answers from Attorneys
There is no way to answer your question without a clearer question more detailed information.
I read your question as though you sold a home, and carried back the purchase price with an owner carry back promissory note. I hope that this promissory note is secured by a deed of trust. Either the promissory note or the deed of trust should contain a clause regarding the payment of property taxes. A failure to pay property taxes can be treated as anything from a breach of the obligations which triggers foreclosure under the deed of trust, or even a right for you to pay the taxes and then add that to the debt that must be paid to satisfy the note.
I would have to review the documents in full to properly advise you. If that is not your question at all, then you need to repost with more detail as Mr. McCormick points out.
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