How to get out of this house?
After my mother died a year ago, I put my name on her house. I have to pay property taxes for a year and a half from now before I can sell it. Is there any other way to get out of it? The house was built by my family a very long time ago so it's old and falling apart. I don't have the money to flip it.
- SlickterpLv 711 months ago
Who says you have to pay the taxes? Are they back taxes not paid yet? If so, see if you can get them paid as part of closing.
- G RLv 711 months ago
Sell it as is or get roommates
- realtor.sailorLv 711 months ago
You don't "put your name" on the home, the estate administrator deeds the property to you. If you have to wait 18 months to sell due to a restriction, I think you would be exempt because you inherited the property.
- SlumlordLv 711 months ago
If you prepay property taxes you will get that money back when you sell the place. Not sure why you'd have to pay them that far in advance but the money will be reimbursed by the buyer.
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- babyboomer1001Lv 711 months ago
It makes no sense that you cannot sell it now for taxes you will owe in the future, in the next year and a half. And there are never any requirements that you flip a house after you own it. You own it so you can sell it. Price it accordingly, or tell the realtor the problems with it and ask her what you might get for it. If you owe taxes on it, lower the price accordingly.Source(s): Certified Paralegal, with 25+ years' experience.
- EvaLv 711 months ago
You can sell it any time you want. The 2 yr. residency requirement doesn't apply to inherited property.
- exactdukeLv 711 months ago
Why did you put your name on it, as opposed to selling way back when??
Sell it as is. People are always looking for fix-it-uppers @ a bargain.
- TavyLv 711 months ago
Who had told you that you can't sell and why ?
- PLv 711 months ago
If you can quickly sell it cheap before it goes to a tax auction they can apply part of the proceeds toward the taxes owed.
- Anonymous11 months ago
Can you put tenants in for the 18 months? A letting agent would be able to set that up, for a fee of course. Fees should be tax deductible.