Featured Listing

Featured Article

How is the market recovery

  Bucks County is seeing a surge in motivated buyers.  Nice listings that come out are not staying on the market and some are receiving multiple offers.  We have not see...
read more

Happy Clients

8-2012 Jay Savitz Real Estate Pro Investment PropertiesWe have chosen John and Sheri Curci to represent us with our listings For Sale, as well as Rentals. We do this, because...
read more

2014 Municipalities get the upper hand on Back Taxes

     

 2014 Feb/Source: PAR JustListed;

New amendment changes how municipalities reduce delinquent taxes
Confusion regarding a recently signed bill has created some misunderstandings about how it will affect real estate and transactions. “Act 93, originally House Bill 388 (Parker, D-Philadelphia), only changed how municipalities reduce property tax claims and tax liens to a final judgment in that county,” said PAR legal counsel Brett Woodburn. “As a result, municipalities no longer have to incur the expense of suing delinquent property owners to get a final judgment. “This really expands the arsenal of weapons that municipalities have at their disposal to collect delinquent taxes and fees.” In addition, Woodburn said there has been concern that Act 93 changed how title searchers and abstractors have to investigate or search property taxes or municipal liens. “Nothing in the amendment changes how we search, analyze and resolve judgment liens against real estate,” he said. “Because it’s easier for municipalities to reduce delinquencies to a final judgment however, it stands to reason that municipalities will be more likely to pursue those delinquencies.” It’s important for Realtors® to remind sellers that questions pertaining to liens and encumbrances are included on PAR’s Sellers’ Property Disclosure Statement and having accurate information helps reduce the risk of settlement delays or cancellations.
Source: PAR JustListed; 2/12/2014