Foreclosure in New Jersey>Question Details

jacquelinemt…, Both Buyer and Seller in New York, NY

When my home in NJ has been foreclosed, am I responsible for any taxes associated with the property?

Asked by jacquelinemtdr, New York, NY Thu Mar 21, 2013

I was going through a deed-in-lieu on my home when the HOA attorneys told the lender he would have to pay a $5000 in good faith fee to get an itemized list of my arrears on maintenance fees. My arrears at the time I moved out were $1920. The attorney's say in order to settle the want $16,000.!!! Now the lender instead of deed-in-lieu will just let it go into foreclosure.

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Always consult with an attorney.

If you are talking about property tax. The answer is most likely no. You will not be responsible because the bank will pay for them or the tax lien supercedes all other liens. So the tax lien holder could foreclose instead of the bank.
0 votes Thank Flag Link Sat Mar 23, 2013
I would speak to your tax attorney about any taxes associated with the property. As I'm sure you know, once the sheriff's sale takes place, the property is conveyed to new ownership. So taxes after deed conveyance are not your responsibility.
0 votes Thank Flag Link Thu Mar 21, 2013
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