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Senator seeks required disclosure of back taxes when nonprofits sell property
Summary
Senator Peter Durant asked the Revenue Committee to advance S.1966, which would require nonprofit sellers to disclose unpaid taxes that can attach to purchasers after a nonprofit conveyance, so buyers are not surprised by liability.
Senator Peter Durant testified in favor of S.1966, an act that would require nonprofit organizations selling property to disclose whether the parcel is subject to unpaid taxes that could become due upon sale. Durant said the disclosure requirement simply clarifies an existing consequence so prospective buyers are not blindsided and urged the committee to report the bill favorably.
Durant said the bill would not remove the purchaser’s responsibility for taxes but would place disclosure duties on the nonprofit seller; he described a personal experience with an unexpected tax liability after purchasing a property formerly owned by a nonprofit.
What’s next: Senator Durant asked the committee to advance the bill; no committee action was recorded at the hearing.
