I'm doing title search on properties for upset sale in PA and just learnt about inheritance tax liens. How can I verify if an inheritance tax lien is applicable to a property? thank you !
Realtor · Philadelphia, PA · Member since 2021 · 21 posts · 6 votes
2y
@Rene Hosman is correct. Title should be handling that. I haven't heard of inheritance tax liens effecting a new buyer though. That should fall on the seller either way. What will happen is it'll be deducted from the seller's take away at settlement.
Rental Property Investor · Denver, CO · Member since 2024 · 583 posts · 653 votes
2y
Is your title company not able to explain this or look into this for you? Seems like something they might have information on but in CO we use title companies and I don't know how it works in the state of PA. I'm very curious to hear what the resolution of this is!
Realtor · Philadelphia, PA · Member since 2021 · 21 posts · 6 votes
2y
@Rene Hosman is correct. Title should be handling that. I haven't heard of inheritance tax liens effecting a new buyer though. That should fall on the seller either way. What will happen is it'll be deducted from the seller's take away at settlement.
Rental Property Investor · Denver, CO · Member since 2024 · 583 posts · 653 votes
2y
@Yixiong Pan did you find any other resources with answers to this question? I'm so curious to know what the situation is and what information you found!
I'm doing title search on properties for upset sale in PA and just learnt about inheritance tax liens. How can I verify if an inheritance tax lien is applicable to a property? thank you !
Are you referring to the crazy law where if you buy a property from a deceased person (we have had this happen via foreclosure) that you (even if you were the lender) are responsible for inheritence tax.
From one of our sales, We were also advised that if this property sells to a third party at a sheriff sale, and we cannot provide the department of revenue inheritance tax lien certification, the Allegheny county sheriff will not issue the deed until they receive a copy of the lien certification.
I'm doing title search on properties for upset sale in PA and just learnt about inheritance tax liens. How can I verify if an inheritance tax lien is applicable to a property? thank you !
Are you referring to the crazy law where if you buy a property from a deceased person (we have had this happen via foreclosure) that you (even if you were the lender) are responsible for inheritence tax.
From one of our sales, We were also advised that if this property sells to a third party at a sheriff sale, and we cannot provide the department of revenue inheritance tax lien certification, the Allegheny county sheriff will not issue the deed until they receive a copy of the lien certification.
i would imagine it as a long process to obtain the lien certification from department of revenue.