To state the obvious, that's why you pay a lawyer.
Buying vacant land 101?
Looking for checklist of things to do to buy vacant land without me (as buyer) or seller needing to engage lawyers.
Also, how (I am assuming I should) do I confirm that seller has no liens? Can CRA put lien land I might buy from seller if seller has outstanding income taxes?
Can municipality put lien on land I might buy from seller if seller has outstanding income taxes?
Jurisdiction is NFLD
thanks!
Also, how (I am assuming I should) do I confirm that seller has no liens? Can CRA put lien land I might buy from seller if seller has outstanding income taxes?
Can municipality put lien on land I might buy from seller if seller has outstanding income taxes?
Jurisdiction is NFLD
thanks!
1 - 5 of 23 Posts
There may be reasons why this old coot doesn't like lawyers - maybe there are problems with title to the property. You hire a lawyer to protect your interests - not his. He doesn't have to hire one.
1. Property taxes - it is rural land he bought in 1983. I thin k the municipality has lost track of owners fifty years ago - the seller never got a tax bill even though registered in reg of deeds. My questions:
a) Could he sell it to me then when I register the land it hits the municiplaities radar - could they try to get me to pay the property taxes from 83-now that he owed or worse try to take the land?
b) Do municpalities have to register land tax arrears or liens with reguistry of deeds?
I don't know what their administrative process is. But municipalities can seize properties and sell it for non-payment of taxes. There are half a dozen such properties up for sale in my local newspaper today.
I find it hard to believe the municipality just "lost track of owners" 50 years ago. Ownership is recorded in the land Titles Office. If the municipality can't find your current "owner", maybe he never properly acquired title to it. Or maybe he knows there's 50 years of back taxes owing, and doesn't want you to hire a lawyer to look into it. See a lawyer.
a) Could he sell it to me then when I register the land it hits the municiplaities radar - could they try to get me to pay the property taxes from 83-now that he owed or worse try to take the land?
b) Do municpalities have to register land tax arrears or liens with reguistry of deeds?
I don't know what their administrative process is. But municipalities can seize properties and sell it for non-payment of taxes. There are half a dozen such properties up for sale in my local newspaper today.
I find it hard to believe the municipality just "lost track of owners" 50 years ago. Ownership is recorded in the land Titles Office. If the municipality can't find your current "owner", maybe he never properly acquired title to it. Or maybe he knows there's 50 years of back taxes owing, and doesn't want you to hire a lawyer to look into it. See a lawyer.
PS. Let us know how it turns out. We would all like to know if your lawyer turns up anything strange about this deal.
In a word, yes. If you buy the land you are buying any debts or liens on that land. That's why you pay people to search for such problems beforehand. Frankly your lawyer will prefer that you consult him before you even sign an offer to purchase, or he may not be able to get you out of a bad deal without a loss.a) Could he sell it to me then when I register the land it hits the municiplaities radar - could they try to get me to pay the property taxes from 83-now that he owed or worse try to take the land?
1 - 5 of 23 Posts
- This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Canadian Money Forum
A forum community dedicated to Canadian personal finance enthusiasts. Come join the discussion about investing, stock portfolios, equities, frugality, real estate, market trading, taxation, retirement, and more!
Full Forum Listing
Explore Our Forums
