What are the ramifications if I abandon my home that is paid for

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What are the ramifications if I abandon my home that is paid for

House is severely damaged from
hurricane florence

Asked on September 26, 2018 under Real Estate Law, North Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

You will still be the owner and be liable for it, until and unless you sell it to another who takes title, or it is foreclosed upon. If anyone is injured on the property, you could be liable for their injuries; the town can fine and cite you for not maintaining it according to health or building code rules, and those fines could mount up; you still have to pay property taxes and could be sued for not paying them; if there are balances due for insurance or utilties, and you don't pay, you could be sued for those amounts, possibly with late fees; etc. If the house is paid for, sell it--sell it at whatever price it takes to get it off your hands, even if just a nominal amount, so you can transfer the title and headache to someone else.


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