Quote:
Originally Posted by Taj44
Good points. This is a very complex issue, and to say "Don't worry about it" is in my opinion, burying one's head in the sand. I've never heard of a salesperson informing potential buyers of the IRS issues, so I think that this forum is a good place for people to learn a little bit about what they may be buying into. Again, in my opinion, to deliberately withold that info is not being completely honest.
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If you or I sell a house in Florida we will have to fill out a form called “Seller’s Real Property Disclosure Statement” . Questions like question #1a.
Are you aware of existing, pending, or proposed legal actions, claims, special assessments, ……..affecting the property. If yes explain……
In my thinking if I sell my house in TV and I do not answer #1a. with IRS, grounds would exist for a civil suit against me for damages. Note I am not a lawyer.
If anything changes on this form you must inform your buyer of the change in 5 days.
If I am obligate to provide this information TV should also.