Eminent Domain

[screwed2013]

Hello,

A portion of my property was seized by the DOT for public use. The DOT offered me compensation for the value of the property but my mortgage company took me to court for the amount. In the end, the court issued the full amount to be turned over to the mortgage company. Am I responsible for the taxes on this money or is the bank?

 

[army judge]

Hello,

A portion of my property was seized by the DOT for public use. The DOT offered me compensation for the value of the property but my mortgage company took me to court for the amount. In the end, the court issued the full amount to be turned over to the mortgage company. Am I responsible for the taxes on this money or is the bank?

You don't want to get screwed twice do you?
Talk to a tax lawyer or a CPA.


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