Common use of Sale or Transfer of Property Clause in Contracts

Sale or Transfer of Property. In the event of a sale or transfer of the property, property tax prepayments are to stay on the property tax account and the responsibility for the adjustment shall be between the vendor and purchaser. It is the responsibility of the property owner to notify the Collector, in writing no less than fifteen (15) days, prior to the sale if they wish to withdraw from the property tax prepayment plan to ensure payments do not continue after thesale. Home Owner Grant: To claim the basic or additional grant, property owners must meet eligibility requirements and complete an application form each year. The application form is located on the front of the tax notice and can also be claimed online at xxx.xxxxxxxxx.xx. Homeowner Grant applications that are incomplete, unclaimed or late will result in a 10% penalty charge. Participation in the Property Tax Prepayment Plan is not a substitute for claiming thegrant. Participants in the Property Tax Prepayment Plan will be automatically renewed each year unless the Town of Ladysmith receives written notification, in a manner the Collector requires, from theapplicant.