BHL Bogen

BHL Bogen
BridgehouseLaw LLP - Your Business Law Firm

Sunday, April 30, 2006

Foreign Real Estate in the US - and tax issues

The Supreme Court ruled on April 26, 2006 that when a mailed notice of a tax sale is returned unclaimed, a state must take added steps to attempt to make sure the property owner knows the property is at risk before it may be sold.

This issue is specially interesting for European owners of real estate in the US. Often they do not know whether their local property manager paid all taxes and they do not get any notice sent to their US vacation home until hey return in several month.

Now the Court demands that "reasonable" additional steps need be taken, and then only when it is "practicable" to do so. What does this mean? See more in the ruling: written by Chief Justice John G. Roberts, Jr., (majority: 5-3 ruling) in the case: Jones v. Flowers (04-1477).

Pay yout taxes is the best advice.

Greetings
RvH

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