1.3 What happens if I have any unpaid LPT or an outstanding Return on the property?
Before the sale of a property is completed, you must file any outstanding LPT Returns and pay up-front any unpaid LPT due, including any accrued interest and penalties. This includes any LPT that has been deferred by you. If you are paying the LPT liability in instalments over the year, you are required to pay the outstanding balance prior to completion of the sale.
Revenue will only be able to chase the liable person for any unpaid LPT ( The vendor was liable on the 1st Nov ) Thay cannot pass the debt on to you if you have proof of when you bought the house.
Does anyone know if the vendor is due a refund from the revenue if they go ahead and pay it ?
I think we might incentivise the vendor to get it paid and have his solicitor close out the sale fast by offering to refund the amount to him personally..
But the liabilty is for the person who owned the property in Nov 13. Are you saying if a person buys this year that they will have to pay back the vendor pro rata ?The Vendor pays it and the purchaser refunds the vendor all the LPT apportioned to the period after the closing date. There will be a condition in the contract to this effect.
Your vendor will not sell to you if you are insisting that you won't pay your share. He'll find someone else who will agree to shoulder their share.
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