What is the name of your state? -FL
I received a letter and threatening phone call from the new buyers of my home more than a year after I sold it claiming I owe them money for 2005 taxes. At the 2005 closing, the closing company estimated my share( the seller's) of the taxes and they were paid at closing. The new buyer got the final tax bill later in 2005 and paid it in 2005. However, it is now December 2006 and they are just now contacting me and stating I owe them over $1500 to make up the difference in my portion of the estimated and known taxes.
My question is a) can they contact me over a year later about this? I paid what the closing agent told me to pay at closing and did not knowingly lie to anyone about the taxes... I did not know taxes would go up and always assumed whoever is in the house at the time pays the taxes when the bill comes...
b) i did sign a tax proration agreement along with the buyer but it only says "we (they buyer and seller) approve the prorartion at this time and if the taxes for the current year differ from those for last year we agree to make further adjustments between ourselves and do not hold the title company responsible for any changes in the amount"
This doesn't say I have to pay any differences or that I am liable for the entire amount, only that I agree to not bother the title company about it, correct?...I have made the buyer an offer to split the difference with him but am I honestly responsible for paying anything? They keep threatening to sue me?
Please help!
I received a letter and threatening phone call from the new buyers of my home more than a year after I sold it claiming I owe them money for 2005 taxes. At the 2005 closing, the closing company estimated my share( the seller's) of the taxes and they were paid at closing. The new buyer got the final tax bill later in 2005 and paid it in 2005. However, it is now December 2006 and they are just now contacting me and stating I owe them over $1500 to make up the difference in my portion of the estimated and known taxes.
My question is a) can they contact me over a year later about this? I paid what the closing agent told me to pay at closing and did not knowingly lie to anyone about the taxes... I did not know taxes would go up and always assumed whoever is in the house at the time pays the taxes when the bill comes...
b) i did sign a tax proration agreement along with the buyer but it only says "we (they buyer and seller) approve the prorartion at this time and if the taxes for the current year differ from those for last year we agree to make further adjustments between ourselves and do not hold the title company responsible for any changes in the amount"
This doesn't say I have to pay any differences or that I am liable for the entire amount, only that I agree to not bother the title company about it, correct?...I have made the buyer an offer to split the difference with him but am I honestly responsible for paying anything? They keep threatening to sue me?
Please help!