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1994 SESSION

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HB 437 Tax liens on real estate.

Introduced by: Joseph P. Johnson, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Tax liens on real estate. Requires the purchaser, in the case of a purchase of a portion of a tract of land, to apply the sale proceeds to the payment of unpaid taxes assessed on the land, prorated on the same basis that the purchase price bears to the assessed value of the entire tract. The bill also provides protection for the purchaser by requiring that his portion of the real estate acquire lien-free status in the event the sales price exceeds the purchaser's pro rata share of taxes.


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