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#771888 - 05/31/16 01:40 PM Excess Property Tax Considered Net Proceeds?
jotxttu74 Offline

recently joined

Registered: 05/31/16
Posts: 1
I was awarded net proceeds from the sale of our home. There was no equity after the sale, but there is excess property tax escrow. I've consulted with my attorney and per the decree, "net proceeds" would include this escrow. My ex says he keeps it per his attorney. I've searched everywhere and cannot get a solid answer as to if escrowed property taxes would be considered "net proceeds". I would think so because it is money due after the sale of the home. Has anyone else had this issue? Thank you!

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#771889 - 06/01/16 03:26 PM Re: Excess Property Tax Considered Net Proceeds? [Re: jotxttu74]
TJMH Online   content

enthusiast

Registered: 07/17/15
Posts: 347
I'm not sure if it would be considered part of the proceeds of the sale. Seems to me that excess property tax would be money that you paid into escrow, probably out of marital funds (I imagine it was part of your mortgage payment, no?). So that would seem to make it community property and you'd be entitled to a share.

But if your ex and his lawyer disagree you'll probably have to fight to get it--is it enough money to be worth it?

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#771890 - 06/01/16 09:39 PM Re: Excess Property Tax Considered Net Proceeds? [Re: jotxttu74]
MinnesotaMom Offline

old hand

Registered: 01/05/11
Posts: 791
Who paid the taxes and when? Where you separated when they were paid?

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