Well, I had hoped that 2018 would be better for our rentals than 2017, last year was very very painful, but we're not off to a good start. I learned yesterday that when we purchased our last property the title company didn't notify or correctly get the property transferred into my companies name. As such we're behind a year on tax payments, and the listed owner is the seller...who either didn't get the invoices or didn't forward them to my attention.
My question...It pains me that I have this hanging out there and I don't want it to effect my current tenants. What's the right way to proceed?
Originally I wanted to get it paid immediately and then chase down the person responsible for covering the interest and fees, however I'm not sure anymore. I'm sure the title company will have to now provide the right documentation to get ownership transferred to me, and should i be paying for the amount when i'm not listed on the invoice? I'm guessing the city doesn't care who pays, and the interest and fees are going to get paid by someone.
I’m a Missouri Attorney. This is not legal advise and does not create an attorney client relationship.
My advice is to find a good real estate attorney and have him/her review the closing docs and proceed with sending demand letters to the seller and the title company. If they don’t response within ten days, file suit.
Who is the record title holder? Did the title company convey the property from the seller and then back to the seller?
Anyway, I hope this helps. Good luck!
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