Legal Question in Real Estate Law in Texas
Purchaser not paying Tax & Insurance
Sold house on Contract, purchaser has had Insurance
cancelled, and has only paid taxes for one year,
and is behind 3 years. What steps should I take
keep the house from being taken over for taxes.
1 Answer from Attorneys
Re: Purchaser not paying Tax & Insurance
1. Immediately contact the county assessor and treasurer in the county where the house is located and ask them. It will undoubtedly involve you paying the back taxes, which you must do to avoid losing the property at a tax sale.
2. Immediately purchase landlord's insurance on the dwelling to protect your investment in the event of a loss.
3. Submit a bill for these items by certified mail, with a letter demanding (a) payment and (b) that the purchaser not again let the taxes go into default and must maintain insurance coverage at all times. Give the purchaser a 15 day deadline within which to comply.
4. If the purchaser does not fully comply within the time period, consult a real estate lawyer about declaring the contract breached and retaking ownership and possession of the property.
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