My Step Mother has a Life Estate per my father's will. However she has not paid the Real Estate taxes faithfully. We now have a back taxes debt of $27,000. What are our (the children) options?
2 Answers from Attorneys
I don’t have to tell you this is a very bad situation. It’s also more complex than I can answer without doing more research. Good luck.
Pay the taxes before the County sells the debt as a Tax Certificate. If the debt is sold to a hard money lender, that purchaser can foreclose on the tax lien and not have to satisfy any mortgage, if there is one. Your step mother will lose the home if the tax debt is not satisfied. Borrow the money if necessary assuming the property has equity. After that, stay current with the property taxes.
Real Estate tax foreclosure cases are hard to defend because the tax MUST be paid!