Want to impress your clients? Talk to them about the tax certificate and how it can affect their transaction.
Section 31.08 of the Texas Tax Code enables any person to request a statement of any delinquent taxes, penalties, interest, costs, and expenses currently due for a particular parcel of real estate. The law says that if a seller sells property accompanied by a statutory tax certificate that erroneously indicates there are no taxes due or that fails to include property because of its omission from an appraisal roll, then any existing tax lien on the property is extinguished, and the buyer is absolved of any liability for omitted balances or for taxes based on omitted property.
Read more in this story from the August issue of Texas REALTOR® magazine.