Who is responsible for property taxes on Rent to Own property, Buyer or Seller?

Who is responsible for property taxes on Rent to Own property, Buyer or Seller?


Real Estate Questions

in West Virginia Posted 1 year, 6 months ago

1 Response

Profile Picture of Frank Natoli
Frank Natoli

Founding Partner & CEO at Natoli-Lapin, LLC

Hi,

Typically, the LL will continue to pay the taxes. Remember, you are paying the rent and an additional amount set aside toward the purchase. So the LL is still getting the rent value and there would be no reason for you to pay the taxes on top of that. The maintenance is usually the responsiblity of the tenant however.

Keep in mind these agreements can be negotiated so it really depends.

All the best,
Frank
www.LanternLegal.com

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

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