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September 23, 2011 Real Estate news in Lewisville,Texas, United States of America
When a property owner passes away, their heirs may be responsible for past due property taxes when they take ownership of the inherited home.
FOR IMMEDIATE RELEASE
Lewisville,
Texas,
United States of America
(Free-Press-Release.com) September 23, 2011 --
For Immediate Release:
Lewisville, TX (September 24, 2011) – When an individual becomes an heir or executor to an estate, they may find that the deceased has outstanding property taxes due which can threaten ownership of their house or other property. In order to sort out legal ownership of the property, their heirs may be required to pay back taxes due to the state and county. Financing the outstanding property tax bill can pose a serious financial burden which many heirs may not be able to meet.
In the state of Texas, overdue property taxes accrue penalties, interest, and fees at a rapid rate. During just the first year of delinquency, the charges can add up to 44% of the original tax bill. Furthermore, the local tax authority places a tax lien on any property with unpaid property taxes. This places the property at risk of court-ordered foreclosure. For the heir to a home, delinquent estate property taxes can make it impossible for them to take ownership of their inheritance. To avoid foreclosure, they have to come up with the funds to pay the back taxes and clear the lien on the property.
Some heirs and executors have found that property tax loans are the quickest way to protect their claim to an inherited piece of property. Rather than risk losing the house to a court-ordered foreclosure, heirs can obtain Texas property tax loans which will enable them to pay the back taxes owed to the state. According to Texas property loan experts Reliance Tax Loans, LLC, estate property tax loans may offer the quickest path to clearing up outstanding debt on an inherited property. Only once the property tax debt has been paid can the executor and heirs take full ownership of the property, to do with as they see fit.
Fully licensed by the state of Texas, Reliance Tax Loans has advised numerous owners of residential and commercial properties about property tax loans. Their commitment to excellence and honesty has earned them an exemplary rating with the Better Business Bureau. Reliance Tax Loans, LLC specializes in assisting executors and heirs of properties with past due taxes by providing competitively priced, low monthly payment Texas property tax loans. Reliance Tax Loans can assist with the financing of estate property taxes, and their loan consultants are experts in assisting Texas property owners with navigating through the numerous steps required to protect their ownership interests. For a no obligation free consultation, contact Reliance Tax loans by telephone at (888)250-2645 or by email at info@RelianceTaxLoans.com. Additional information can be found by visiting their website https://www.reliancetaxloans.com/.
Al Dimoush
Reliance Tax Loans
401 East Corporate Drive, #100
Lewisville, TX 75057
888-250-2645
214-530-9814
info@RelianceTaxLoans.com
https://www.reliancetaxloans.com/
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