SENIOR CITIZENS REAL ESTATE TAX DEFERRALS

If you are writing a title policy on a sale of property where there is or are notice(s) of a Senior Citizens Real Estate Tax Deferral recorded, then you must collect funds sufficient to repay the deferred real estate taxes at closing. Please remember that you must collect separate release fees for each tax year being paid. Even if all tax years are on one payoff letter and only one check is issued for the entire amount, separate releases must be issued and recorded for each tax year.

For more information on Senior Citizens Real Estate Tax Deferrals, please seethe articlein the September-October 2007 issue ofthe ATG Concept.

© ATG UB0701vol12no3

 

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