Ask Experts Questions for FREE Help !
Ask
    nataysha's Avatar
    nataysha Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Jul 20, 2010, 06:51 AM
    My grandma owns a house and in 10 years paid no tax what can she do?
    My grandma bought this hoyse 10 years ago my brother is in the will he has paid no tax in that 10 years he receives 240 a month she wants to put the house up for sale to pay this off the house is worth 6o grand and my dad owns 20grand once it is sold what will my grandma be left? Also she is on DLA will this be stopped? And how much is the tax that is owed? Also capital gains is owed because its her 2nd home how much will that be please add this up..
    Thanking you she needs your help
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jul 20, 2010, 07:21 AM

    Are you saying, she has paid no property taxes while she has owned the property? What does your brother have to do with anything? If grandma is alive what does the will have to do with anything? What is DLA?

    Your post is very confusing and unclear as to what the situation is. Please try making it clearer so we can help.
    nataysha's Avatar
    nataysha Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Jul 20, 2010, 10:00 AM

    OK! Well sorry about that ,I'm saying that my grandma owns a house and has paid no taxes since she cought it 10 years ago because it is her second house she has to pay capital mains tax also and now the tax people have wrote to her saying that they want the tax from the last 10 years on this house.
    Well the rent is 250 a month and hasn't always been this amount it was less when first brought does anyone know what her options are she has made no repairs on the house and made also no profit other than the rent at a low rent (its 2bedroom terrace).
    What is the percentage the tax man will put on it or in fact I need any information so I can help her as I do not have a clue my brother is on the will for the house which is for him when she dies so isntthere any way he can buy it from her she wants rid of it but because he had the rent money he has to pay this what's the answers I know its messy but its also a long mad mess I need to sort this for them .
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Jul 20, 2010, 04:14 PM

    So why did not pay property taxes for 10 years? She apparently owned another property so she should have known that she had to pay taxes. If the county is coming after her for back taxes then she will have to pay those taxes or the county will seize the property.

    As to Capital Gains tax, that only becomes an issue if she sells the property for a profit.

    Again your brother being on the will has no bearing here. If he wants to buy the property he will also have to pay the back taxes. And the county will want the full amount of taxes owed.

    Not sure what more help we can give you. If grandma wants to sell she has to settle with the tax collector first. Once she does that, she can then find a buyer.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #5

    Jul 20, 2010, 05:10 PM

    I am surprised the house has not sold at auction for taxes at this point, it is normally done at 3 or 4 years at least.

    So you are in close to losing the property.

    When you sell the house, you will have to to pay all 10 years taxes and any loans on the house before it is sold.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Buying house from grandma before she passes [ 4 Answers ]

My husband and I have considered approaching my grandma and inquiring about purchasing her house. We would like to have an arrangement in order before she passes so the in-laws do not give us a hard time, but we're not even sure if this is legal. We currently own a house, and she would continue...

I am trying to find a health insurance for my grandma who is 70 years old. [ 3 Answers ]

My grandma is 70 years old and pays a large premium every month for health insurance. Is there another company that insures reasonbly. Plambchop

House abandoned for years and no mortgage has not been paid [ 5 Answers ]

I have been divorced for 8 years. Whe we were married we co-signed a mortgage together and then we got divorced several years later and he agreed to take the home. Apparently he never did. My ex-husband filed bankruptcy 3 years ago and the loan was discharged for him. I went to get pre-arppoval...

New car purchased, taxes paid in two tax years [ 1 Answers ]

I purchased a car at the end of 2007. The dealership included state taxes but neglected to include city and county taxes, which I paid when I registered the car in 2008. Can I only deduct the state taxes for my 2007 tax returns and, if so, can I deduct the city and county taxes from my 2008 tax...

Parents house is paid off - what are the tax/financial implications for deed transfer [ 1 Answers ]

My father recently passed away and my mother wants to transfer the deed to their house over to me. The house is fully paid off and I was wondering if we did transfer the deed, would there be any financial implications, i.e. would this be considered a gift and if so, what would the tax implications...

View more questions Search