Take ownership of your mistake and learn to do the proper due diligence recommended above😊

You asked about a property you have listed for sale and property taxes that are coming due and the consequences of not paying them until the property sells.Generally, the local taxing authority will impose an interest penalty on any unpaid balance after the due date with a long grace period before you would have to worry about unpaid property taxes affecting your ownership of the property or your ability to sell.In all likelihood, the property taxes will become a part of the closing and will be deducted from your proceeds at the time of sale.By the way, property taxes are always in first lien position ahead of any other debts like mortgages.

I have not set up a trust--mostly because it seems like a lot of extra work and expense but mostly, I don't know the benefit of the trust in ownership of an LLC.

Originally posted by @Kisa Adderley:Rain City Capital only charges 8%.We currently have 3 flips with ES & 1 with RC. 8% is certainly easier on the wallet.I think you mean Magnolia, which shares similar ownership to RCP? 

The perfection of tax title into indefeasible ownership (“good” or “merchantable” title) is a very complex process requiring meticulous compliance with the law.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

If you remove your name from the deed (ownership) that is very different than the mortgage.

Let's assume you have won a tax sale auction and now you have to wait until the redemption period expires before you can take ownership of the property.

I have invested as a LP in apartment communities where there is a partnership between a government agency and the ownership group to provide affordable housing in exchange for tax abatements and long-term, low-rate government funding. 

The ONLY two ways this happens is either the current mortgage subordinates to a new first lien or you sell a large percentage ownership to an equity partner.