liabilities question

[Yax]

Anyone know what liabilities/responsibilities comes with owning land in California?

Things like, do I need some sort of insurance for the property? Taxes? etc.

 

[kermalou]

if you have a mortgage out on the property, you will need insurance if there is a building on it.

you are responsible for property taxes as well.

 

[AcidicFury]

Call your local government office.

 

[Bryophyte]

Property taxes in Oregon are levied by both county and city. I assume it's the same for Cali. If you have a mortgage on the property, the leinholder usually requires you to have insurance on it.

 

[Yax]

Originally posted by: AcidicFury
Call your local government office.

Which department? where to start?

 

[AcidicFury]

Originally posted by: cheapbidder01

Originally posted by: AcidicFury
Call your local government office.

Which department? where to start?

Town Hall, as they should be able to refer you to people.

 

[Yax]

Originally posted by: Bryophyte
Property taxes in Oregon are levied by both county and city. I assume it's the same for Cali. If you have a mortgage on the property, the leinholder usually requires you to have insurance on it.

Lets say its a piece of land. No buildings. no mortgage on it. ???

 

[Bryophyte]

Originally posted by: cheapbidder01

Originally posted by: Bryophyte
Property taxes in Oregon are levied by both county and city. I assume it's the same for Cali. If you have a mortgage on the property, the leinholder usually requires you to have insurance on it.

Lets say its a piece of land. No buildings. no mortgage on it. ???

Still gonna owe taxes. Insurance is a good idea to have no matter what. What the land is being used for will determine the rates.

Edit: it's possible to get certain types of land to be exempt from taxes, but it's pretty unusual. Things like protected wetlands that you've legally bound up so it can't be developed.

 

[jadinolf]

I used to own acreage and didn't have insurance on it.

Reading thses posts makes me realize that it was not a good idea.

If someone had walked on it and hurt his/herself I would be liable.