If parents of grown children are deceased, who pays the real estate taxes on their home?
Question Details:
Would it be the responsibility of the remaining children?
The person or persons who hold title to a piece of real estate are responsible to pay the applicable real estate tax. If a property was devised to two or more siblings by their deceased parents, each of those siblings who has an ownership interest can be held responsible by the taxing authority. If the taxes are left unpaid, the taxing authority will, in time, place a lien against title to the property; and eventually take action to foreclose the property for the purpose of generating cash to cover the back taxes, penalties and interest. For the sake of avoiding these very serious repercussions that result from the failure to pay property tax, each co-owner should contribute a share of the amount due proportionate to his or her ownership share of the property.