LD 1157
pg. 2
Page 1 of 2 An Act to Ensure the Payment of Real Estate Taxes on Transferred Property LD 1157 Title Page
Download Bill Text
LR 1879
Item 1

 
Emergency clause. In view of the emergency cited in the preamble,
this Act takes effect when approved.

 
SUMMARY

 
This bill requires the seller of real estate at the time of
the closing to pay or post a bond in the amount of property taxes
due. After the closing, the new owner of the real estate must
notify the municipality of the share of taxes the new owner will
pay. When that share is paid, the municipality must reimburse
the previous owner for that share payment.


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