Legal Question in Real Estate Law in North Carolina
If a bank takes back the deed to a property with a "DEED in LIEU of FORECLOSURE", aren't they also responsible for the taxes that are
owed on that property?
Asked on 10/19/12, 11:04 am
1 Answer from Attorneys
Kenneth Love
Ken Love Law
Yes and no. You are still legally responsible for the taxes prior to the transfer of the deed. But in reality the bank will pay them because the taxes will reamin a lien on the land until paid.
Answered on 12/07/12, 3:25 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
