ECONOMICS
PROPERTY RIGHTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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in February
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October 16th
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March 1st
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November 1st
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Detailed explanation-1: -Your right to redeem expires at the close of business on the last business day before the sale date. (Cal. Rev. & Tax.
Detailed explanation-2: -A. Your taxes can remain unpaid for a maximum of five years following their tax default, at which time your property becomes subject to the power of sale.
Detailed explanation-3: -Any unpaid property taxes constitute a lien on the property from the date they are due until they are paid. A lien is a debt attached to your property, like a mortgage. County-specific local charges can be added to this lien.
Detailed explanation-4: -Failing to keep up with the property taxes on your New York home can lead to a tax foreclosure. Here’s how a New York tax foreclosure works: When you don’t pay the taxes, the delinquent amount, which includes the accrued taxes, interest, penalties, and costs resulting from the delinquency, becomes a lien on your home.