Previous owner wants property tax credit? - Page 6 - SailNet Community
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post #51 of 65 Old 08-15-2013
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Seems to me 9. is pretty clear... and you didn't agree to pay property taxes in writing. I don't think 10. voids 9. just because you didn't initial an option in 10.
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post #52 of 65 Old 08-15-2013
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Looks to me it's completely on the buyer and the broker, now go sail your boat.
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post #53 of 65 Old 08-15-2013
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Re: Previous owner wants property tax credit?

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Originally Posted by imasaluki View Post
Seems to me 9. is pretty clear... and you didn't agree to pay property taxes in writing. I don't think 10. voids 9. just because you didn't initial an option in 10.
but you do in California. the tax burden is with the seller because he owned the boat on Jan. 1 2013. if he had agreed to pay it would be to pay a prorated portion of the seller tax bill in the contract.

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post #54 of 65 Old 08-15-2013
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Re: Previous owner wants property tax credit?

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I should add that the broker was the Seller's broker but acted as the buyer's and seller's brokers in this transaction as I did not have a broker working for me.
I once had a divorce lawyer give me S**T when my ex and I, splitting up amicably , went to him with our 'dinner napkin' draft of how we were splitting things up. He told us in no uncertain terms that the law did not permit him to represent both sides and I should seek independent council.

I feel the same way about real estate agents who work both sides of the deal....they are representing nobody except their own wallet.

The broker in this case did not represent his industry well.
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post #55 of 65 Old 08-15-2013
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Originally Posted by imasaluki View Post
Seems to me 9. is pretty clear... and you didn't agree to pay property taxes in writing. I don't think 10. voids 9. just because you didn't initial an option in 10.
but you do in California. the tax burden is with the seller because he owned the boat on Jan. 1 2013. if he had agreed to pay it would be to pay a prorated portion of the seller tax bill in the contract.
Are we agreeing?
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post #56 of 65 Old 08-15-2013
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Re: Previous owner wants property tax credit?

Ethically-speaking, you shouldn't have to pay it. Legally-speaking, you shouldn't have to pay it.

I would tell him that you are not going to pay it, as that was not a part of the purchase agreement. He won't be happy, but that is what I would tell him. And I wouldn't ask him if he paid the tax for the previous owner, because how will you know if he is telling you the truth?

If he decides to make an issue of it--gets an attorney, or refuses to pay it--then you will have to decide if the amount is worth hassling over. If it is, then you need to spend the money to talk to an attorney familiar with your local tax laws. My guess is that if he doesn't pay it then the state will go after him, not you. But that's only a guess. Only an attorney can tell you for sure and, like I said, you will have to decide if the amount is worth getting an attorney involved.

Good luck.
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post #57 of 65 Old 08-15-2013
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Originally Posted by imasaluki:1074399
Looks to me it's completely on the buyer and the broker, now go sail your boat.
I meant to say "seller and the broker."
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post #58 of 65 Old 08-15-2013
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Re: Previous owner wants property tax credit?

I am really sitting here with my mouth open thinking WHAT THE HECK! In California they assess a property tax every year on your boat, like it was real estate? What a whacky situation, and it is 1.5% of total value? Holy Moley, what a ripoff.

Here in Texas we have no income tax, you pay the sales tax once, and then you pay a small registration fee for your registration yearly, or you can have your vessel USCG Documented for $133.00 a year and not fool with the state sticker. Either way it is not going to be a lot of money, once again California proves that they really do not want business and commerce to take place in their state.

No wonder people are not wanting to stay in California. This is sort of like the thread on having to pay a ton of taxes when you buy a boat in California, even if you do not live there.

It does look like the seller might need to take it out of his broker, since the broker was the one who missed getting that little mess taken care of in the sales contract. However, you need to make sure that the state of California does not Californicate you by putting a lien on the boat for the unpaid taxes if he does not pay them.

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post #59 of 65 Old 08-15-2013
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Re: Previous owner wants property tax credit?

Not sure why you have to pay $133 a year for USCG documentation. I just sign the form and send it in for free.


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post #60 of 65 Old 08-15-2013
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Re: Previous owner wants property tax credit?

What are we talking about in terms of Real $ ?

$1,000 ?

I don't think you owe anything. But, I guess you have to ask yourself if you think you might need/want to call the PO for information about the vessel in the future and what value would there be to him taking your calls. Would you have signed the contract if box 10-a were checked?

I might propose a 3 way split. The seller, the broker and you each pay a 3rd..of the bill.
If it's a grand, then that's $333.00 apiece. Let him deal with the broker, and make sure you can verify that the tax bill gets paid.

It keeps the lawyers out of it. Spreads the pain equally and potentially preserves your ability to have good future dealings with both the broker and the PO.

Or you can simply, walk away.

When I purchased my last house, both brokers took a cut in their commission to make the deal happen.

imo...The broker screwed this deal up, so they do have skin in the game if they want a good reference.

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