Quote:
Originally Posted by The Shadow
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.
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Does
The Villages answer "yes" to that disclosure statement question when selling a new home since these IRS inquiries began?
I doubt it, and therefore don't see how homeowners would be held responsible for the tax if IRS "wins" and goes after it.