In some cases, the sale of a property triggers payment in full of a deferred tax or special assessment. If this is the case, the tax may be paid by
all of these.

Answers

Answer 1

If a property sale triggers payment of a deferred tax or special assessment, the responsibility for paying the tax usually falls on the seller.

This is because the tax or assessment is typically attached to the property and not the owner. As such, when the property changes hands, the new owner inherits any existing tax liability.

The payment of the deferred tax or special assessment may be made directly by the seller, or the payment may be deducted from the sale proceeds before the seller receives their payment. This deduction is typically made at closing, where the seller's proceeds are calculated and paid out.

It is important for both buyers and sellers to be aware of any outstanding tax or assessment liabilities attached to a property before entering into a transaction. Failing to account for these liabilities can result in unexpected costs and delays in closing the deal.

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Related Questions

t/f prisons are violent mainly because they house large numbers of people who disobey social norms.

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The given statement "prisons are violent mainly because they house large numbers of people who disobey social norms." is true because of diversity of inmates with varied criminal backgrounds in penitentiaries.

Due to the diversity of inmates with different criminal histories in prisons, prison violence occurs frequently. Inmate on inmate, inmate on guard (and vice versa), and self-inflicted are the three distinct types of attacks.

These carveouts undermine the impact of otherwise well-designed policies because more than 40% of those incarcerated and detained are there for "violent" offenses. Physical violence is the most prevalent type of violence in the prison system. Sexual violence is another prevalent type of violence in this setting.

In addition to adding to their trauma and exposure to violence, it also reinforces their disadvantage and fuels more crime and social harm. Additionally, the prison does very little to address the root causes of crime in communities.

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