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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54025
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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On a land contract, what does the statement "Purchaser shall

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On a land contract, what does the statement "Purchaser shall pay prior to delinquency all taxes and assessments levied on the property at the time of execution" mean? Purchasing property in Wi. In lay man terms please.
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Richard replied 6 months ago.

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Expert:  Richard replied 6 months ago.

What this means is that if, at the time of the execution of the contract, any taxes or assessments have been levied and are owed on the property...such as property taxes or HOA assessments...the purchasing party agrees to pay such taxes and/or assessments timely...i.e., before they become delinquent.

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