Question:

I recently Bought a foreclosed Property, and found out the former owner has yet to pay 3 years worth of realty estate tax. Will I have to pay that or will it be forfeited and I just have to pay the current one? Thanks!

Answer:

As most foreclosed properties are sold on an “as is where is basis”, the answer is yes. Unless you have a previous arrangement with the company you bought it from. If none, then expect to pay the previous owner’s taxes.