i have recently sold my house and have yet to be paid. the title company is holding the money because they said the taxes had not been paid on the extate we have proved without a shodow of a dout that the taxes were paid long ago and i have still not recieved my money
Asked on Aug 22nd, 2012 on Real Estate - New Jersey
When you say you proved that the taxes were paid, did you mean you had provided the necessary form from the Inheritance Tax division of NJ??? You need to fill out an L-9 form, submit it to the State and get a form back indicating "officially" that you have paid the taxes. I have attached a link to the form. http://www.state.nj.us/treasury/taxation/pdf/other_forms/inheritance/itl9nr.pdf
There should be an agreement that the title company is holding only the amount of money necessary to cover the taxes, in the event that you did not pay them. The title company should not be holding all of the money.
If you have already completed the L-9 and the title company still will not release the funds, then you need to find out why they will not release the money. Good luck, and if I can be of any help, call my office.
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