Dear, Here are the facts to clear up some of the confusion: When one owns a home (not a cooperative unit) in New York, such ownership is documented by a DEED. The DEED is given to a purchaser by seller at the closing. The DEED is then recorded by the Title Company in the County Clerks office. On the other hand, Title (Insurance) is provided to the purchaser at the closing by the Title Company who has conducted the searches and provided insurance. The satisfaction of mortgage is recorded...
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If seller not current on his/her Real Estate Taxes prior to the transfer of DEED: Unless there has been a Tax lien sale prior to your closing, your Title Company can collect the outstanding Taxes/Penalties from your seller and pay them to the City/County. If you have any questions, please visit us at www.Lawyer4Real Estate.com or call my office at 718-375-3300.
If you do not have a CPA, you may want to consider contacting IRS directly.
With Real Estate questions, please visit www.Lawyer4RealEstate.Com or contract Irene Stein, Esq at 718-375-3300.