All Forum Posts by: Jeanni Prescan
Jeanni Prescan has started 15 posts and replied 70 times.
Post: Inheritance tax on a house bought in LLC at judicial sale

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
@David Krulac I will give that a try and post what happens. Sure hope it works.
Post: Inheritance tax on a house bought in LLC at judicial sale

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
Thank you all for your replies. This is sadly not looking good for me, but it is what it is.
@David Krulac, thank you so much for sharing your experience. Do you think the state would remove the interest if I make that appeal to them?
Post: Inheritance tax on a house bought in LLC at judicial sale

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
Yes, I'm positive it was a judicial sale. I waited for a judicial sale before purchasing to avoid this kind of stuff!
Post: Inheritance tax on a house bought in LLC at judicial sale

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
I am totally blown away trying to sell a house I purchased 4 years ago at PA Judicial sale. I was taught that a judicial sale will wipe out all leins except federal. I have found that information is totally misleading. Not only do I have to do the quiet title against the heirs, but also the city and school district have a lein on the house for all the back taxes that led to the sale before the house even belonged to me, and I have to pay to have this quiet title brought against them to have the lein released.
PLUS, because the former owners passed away and the heirs did not open an estate at the time of the last heirs death, Pennsylvania is saying that I have to pay the inheritance tax on the property, PLUS interest, per my attorney, to the tune of $13,168.
"The $13,168.84 figure is calculated as follows: $18,000 assessed value x 3.23 date of death CLR = $58,140 property value x 15% collateral tax rate as the property went to the unrelated LLC. = $8,721.00 tax liability. Interest due on that amount totals $4,447.84, resulting in a total due of $13,168.84"
Honestly, this is beyond ridiculous. I can't understand how the state can get away with charging me inheritance tax on a house that I not only didn't inherit but paid for. Plus they will get their transfer $$ at the time of the sale.
Does anyone have experience with this? What can I do to eliminate this inheritance tax?
Thanks,
Jeanni
Post: RCT-101 Tax Form Question

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
Yes I do, an LLC.
Post: RCT-101 Tax Form Question

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
Can anyone tell me what a RCT-101 form is for?
Post: Pennsylvania eviction law

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
Thanks Chris! Appreciate your reply. My experience is they wont sign for certified mail. So I’ve decided to mail it with tracking and post it. Better safe than sorry.
Post: Pennsylvania eviction law

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
Awesome! Thanks Alex. Appreciate your time.
Post: Pennsylvania eviction law

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
In Pennslyvania, does the 10 day eviction notice need to be posted at the house or can it be mailed to be legal?
Post: Pennsylvania Tax Sale

- Real Estate Agent
- Beaver, PA
- Posts 75
- Votes 17
I'm trying to sell a house that I purchased at Pennsylvania Judicial tax sale in 2014. Title is telling me that back taxes for the city are showing as open and due for years that I didn't own the house, in a very large amount. I was under the impression that judicial tax sale wipes out all liens except federal liens. Has anyone had this experience?