When do siblings have to pay property tax?
It occurred to me that whether my wife and I were living in this house, the property tax and insurance would need to be paid; if the house were empty until April, I assume my two siblings and I would split the amount, each paying 1/3rd of the amount.
How long has my mother been paying property tax?
Mother died without leaving a will. She had three children and one of her sons has been paying the property tax for 2 years now. I have been told if he pays it 3 years or 7 years that it is his?
What to do if someone is paying property tax on his deceased mothers?
There may be an option of a buy out of the two children’s interest by the child paying the taxes. You may also be dealing with the issue that he has paid full taxes alone on a property that is owned equally by 3 people. I would certainly speak to an attorney so that he… I agree with the other attorneys.
Do you have to pay rent to your siblings?
It is only by virtue of your landlords being your siblings that it makes sense to divide the expenses with them. (If your mother had been renting out her house to non-family tenants, would you consider letting the tenants stop paying rent at this point?)
It occurred to me that whether my wife and I were living in this house, the property tax and insurance would need to be paid; if the house were empty until April, I assume my two siblings and I would split the amount, each paying 1/3rd of the amount.
Can a sister in law claim ownership of a home?
If your sister and brother-in-law obtained the mortgage on the home and they are on the title to the home, it would seem that they are the owners of the home. The question you’re asking is whether you can claim ownership of the home by virtue of having paid the real estate taxes for the past 10 years.
What are the tax implications of transferring a property to a family member?
So, what are the tax implications of this? Adding a family member to the deed as a joint owner for no consideration is considered a gift of 50% of the property’s fair market value for tax purposes.
Can a family member pay real estate taxes?
But you can have a tenant live in a property who pays the real estate taxes and you can have a family member live in a home and agree to pay the expenses of the home, including the real estate taxes, so typically more than just the payment of the real estate taxes has to happen for you to have a claim of ownership to the property.