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Monday, February 10, 2014

Delinquent taxes on one property creates lien on all of owners' other properties in that county

Under a new Pennsylvania law that will affect many real estate transactions, property owners who get behind on their taxes on one property will have a lien slapped against all their other properties in that county.
I admit to being blindsided by this new law. I can’t comprehend how it was passed without being blocked by Realtors, mortgage lenders and title insurers.
I can only imagine that they didn’t see it coming, or couldn’t conceive that the legislators would give it credence. Maybe they didn’t understand the full complexity of its unintended consequences.
- See more at: http://www.inman.com/2014/02/10/new-pennsylvania-law-will-affect-many-real-estate-transactions/#sthash.1v0LfDyz.dpuf