Legal Question in Real Estate Law in California
Tax Responsibility
I recently received a tax bill for the 2005-2006 year for a shopping center I purchased in 2008. The seller is saying he didn't receive the bill until 2007 therefore he is only responsible for a certain portion of it. The tax bill clearly says that it is for 2005-2006 tax fiscal year. It is a supplemental tax bill and the property was built in 2006, which means it was most likely reassessed because of the new construction.
2 Answers from Attorneys
Re: Tax Responsibility
Without my having read the contract of sale, my best guess is this is a BS excuse on the part of the seller, and you will have to litigate the issue.
Re: Tax Responsibility
Purchase Contract is going to be key to apportioning the tax liability. You need to review the contract, and then probably sit down with an attorney to determine the apportionment of this liability. Once you have done that, make a demand upon the Seller to pay the taxes. Don't let the taxes go into default - you're better off paying the taxes and then pursuing the owner than to let penalties and interest build on the obligation, because ultimately the lien will be on your property regardless of who incurred the tax liability.
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