Legal Question in Tax Law in New York

i was browsing a local tax delinquency list and I discovered my neighbor is in default. I saw her family unloading her garage. And can only assume she intends to relenquish the property, but I would like to know for sure. If I ask her and aquire her property at a hefty discount, if win the bid of course, would that be something akin to insider trading?


Asked on 2/02/12, 9:15 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

I do not believe so, especially if the foreclosure has already been initiated. You could ask the neighbor of her intentions. If the bank agrees to you being the purchaser, at the price it is willing to sell the property, this would be acceptable. Lastly, a tax delinguency does not mean a true mortgage default has taken place, leading to a foreclsure. Maybe your neighbor was cleaning her garage to raise the money to pay the taxes.

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Answered on 2/02/12, 11:57 am


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