Thursday, June 04, 2009

Bluff Called

So, just now, I found a *warrant notice* attached - not nailed, although it would have sounded more dramatic - to my front door.

It was for *unpaid real estate taxes* which are DUE IMMEDIATELY.

Let the foreclosure process begin - for my Moronic landlord.

If y'all remember, he recently tried to raise the rent on us, IN THIS ECONOMY, when his *ownership* status was extremely suspect.

Though a complete idiot, he would have to be beyond crazy to keep paying real estate taxes, higher or not.

We called his bluff and got a new month-to-month lease at the same $2,500 monthly rate.

And, judging by the dollar amount on the warrant, it doesn't look like his taxes went up much at all - no less by $600 per quarter like he insinuated during *negotiations*.

Note that whoever eventually buys this house in a foreclosure proceeding will have to cover his unpaid taxes - and perhaps any unpaid Federal taxes.

How long before do y'all think it will be before the water is turned off?

For background, see - Update - My Moronic Landlord.


Anonymous said...

What unpaid federal taxes are you talking about?
Curious ...

CaptiousNut said...

Would be *income* taxes, of course.

I believe the Feds have 30 days to put a lien on within some window of the foreclosure process.

That I learned from a park mom.

CaptiousNut said...

I know for a fact my landlord has been audited, and sanctioned, in the past couple of years. He told me that he had trouble getting an accountant to do his returns - because of the instructions he was giving them.

Now, most accountants will do whatever you want for a fee since the liability remains on the filer. So that just tells you how shady his *books* have been.

How much would that suck to buy a foreclosure and then find out you had to pay 100k worth of back taxes for the deadbeat previous owner!

Anonymous said...

Wouldn't a federal tax lien have to be disclosed to the buyer and shouldn't that come up on the title search or bank audit?

CaptiousNut said...

I would hope so.

I admittedly haven't researched this fully.

But don't assume anything sane or reasonable about the IRS and their thuggish ways.