Hello, and welcome to JustAnswer! I am a licensed attorney and will be happy to assist you. Please remain online while I access your prior discussion to get some context. This may take a few minutes.
Thanks for your patience. I see what's going on.
If the property is held in joint tenancy, and Nora doesn't pay the taxes (and assumming the kids don't pay either), the IRS can place a tax lien on the property.
The property will also be subject to the creditor claims of all joint tentants.
I know you didn't specifically ask about that part, but you should know.
If Nora doesn't pay the homeowner's insurance, and no one else pays, the insurance will be cancelled.
If a joint tenant files for bankruptcy, the bankruptcy trustee can sell that person's interest in the property. If any joint tenant has a judgment entered against him, such as from a car accident or bad business dealings, the holder of the judgment can execute the judgment against the property.
That said, there are plenty of good reasons to hold property as joint tenants. It's just important to see the whole picture.
I hope this information helps. If you need additional information or clarification, please let me know and I will continue to provide assistance. If this response has helped point you in a positive direction, please let me know that, as well.
You may also print and/or return to this page for reference, at any time.
All the best,
-- Attorney 1
I'm sure Nora will have the property taxes and the home owners insurance rolled into her mortgage, I just wanted to check to see if the kids in fact would be responsible for those items if she didn't pay them. Thanks for all the extra insight to the other stuff - very good to know.
The IRS will look to the owners of the property for payment. If Nora pays the taxes, there is no problem. If she does not, there will be a tax lien on the home, unless someone else, presumably the kids, pay.
The IRS? In our county, if you don't pay the yearly taxes on time they sell your taxes to someone else and then you have 3 years to pay them back - if you don't, that person then owns your house.
I thought you were talking about IRS taxes. Your county is not like most.
Oh, no...just the county property taxes.
OK, same thing, different result. If the taxes are not paid, the house will be sold. If Nora pays the taxes, no problem. The joint tenancy will not prevent the regular course of action that will occur if the taxes are not paid.
Got it. I kind of figured that, but I just wanted to make sure.
Glad you asked.
Is there anything else I can do for you this morning? I'm here to help.
I don't think so. Thanks much for your help!
My pleasure. Good luck!
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).