Who is responsible for the real estate tax and assessments on a house and lot until title transfer?

In real estate transactions, the responsibility for property taxes and assessments typically lies with the owner of the property until title transfer occurs. In most cases, this means that the current owner – whether that is a developer or a previous homeowner – is accountable for these financial obligations until the new buyer takes ownership.

When it comes to a developer, if the property is still within their control, they would be responsible for the taxes and assessments related to the property. Developers often maintain responsibility for the lot and any associated expenses, such as real estate taxes, until the sale is completed and title is officially transferred to the new owner. This is essential for ensuring that legal obligations regarding property ownership are respected throughout the transaction process.

Other parties mentioned have different roles: the buyer becomes responsible post-title transfer, the local government collects the taxes but is not responsible for paying them, and the real estate agent facilitates the transaction without direct financial responsibility for taxes. Therefore, the developer holds this responsibility until the ownership is legally transferred.