Who is on the hook for back taxes?
I bought a property in March 2014 (normal closing here in NC - via attorney). Today, I get an overdue notice from the County for some transfer taxes in 2013 (i.e. way before I owned it). Of course, the county takes the position that they will collect from whoever owns the property now. I forwarded the bill to the closing attorney who agreed fairly quickly to pay it. So, all is well for me, but this did make me wonder as to who is really legally on the hook in this type of situation. My assumption is/was that it's the attorney's job to search the tax records at closing and make sure everything is settled. This may be why he so readily agreed to pick up the tab. However, just made me wonder who would really be left holding the bag if he bailed on me. Would title insurance pick this up?