Note: BCP Real Estate is not a law firm and its employees/owners are not acting as your attorneys. This is provided for educational purposes only and is not legal advice. The following is an illustrative, composite example, not a real client, and any names are fictional. It does not describe or promise any particular outcome.
Meet a man we’ll call Leon. He inherited a share of a family property along with several relatives. Over time, some of them sold their shares, and a couple passed away. Now Leon feels like the last one still named in the tax lawsuit. So he worries he is stuck holding the whole thing alone.
At first, that fear makes sense. After all, everyone else seems to have moved on. But Leon soon learns he can get off a tax lawsuit just as easily as they did.
How Leon got off the tax lawsuit
Leon still owns only his own portion. So the others leaving does not pin the property on him. Instead, a buyer takes over his portion and removes his name. Also, he does not need to track down anyone who already left. Because of that, being last changes nothing about his own exit.
In the end, Leon got off the tax lawsuit and finally relaxed. He paid nothing out of pocket. Now he carries no liability for the property, the taxes, or the suit.
What this story shows:
Being the last heir named does not make you responsible for the whole property.
You can get off a tax lawsuit by selling your own portion, no matter what the others did.
If you want to be bought out of the lawsuit and have your name removed, no cost to you, call or text us at (469) 708-8003 today.
Leave a Reply