Current Year’s Taxes Sample Clauses
The "Current Year's Taxes" clause defines the responsibility for payment of property taxes assessed during the current tax year. Typically, this clause specifies whether the buyer or seller is liable for taxes up to the closing date and how any unpaid taxes will be prorated between the parties. Its core function is to ensure a fair allocation of tax obligations, preventing disputes over who pays for taxes accrued during the period of ownership transfer.
Current Year’s Taxes. All Real Property taxes which have become a lien on the Property (“Taxes”) and which are due and payable prior to the year in which Closing occurs, shall be paid by Seller at or prior to Closing. All Taxes which are due and payable in the year in which Closing occurs shall be prorated to the Closing Date and Seller's portion shall be paid by Seller at Closing or Buyer shall reimburse Seller for prepaid amounts at Closing. This proration shall result in Seller's payment of Taxes from January 1 to the date immediately prior to the Closing Date and Buyer's payment of Taxes from the Date of Closing to December 31.
Current Year’s Taxes. All real property taxes which have become a lien on the Property (“Taxes”) and which are due and payable prior to the year in which Closing occurs, will be paid by Seller at or prior to Closing. All Taxes which are due and payable in the year in which Closing occurs will be prorated to the Closing Date and Seller’s portion will be paid by Seller at Closing. This proration will result in Seller’s payment of Taxes from January 1 to the date immediately prior to the Closing Date and ▇▇▇▇▇’s payment of Taxes from the Date of Closing to December 31.
Current Year’s Taxes. All deferred real estate taxes and all real estate taxes which have become a lien on the Property and which are due and payable prior to the year in which Closing occurs, shall be paid by Seller at or prior to Closing. All real estate taxes which have become a lien on the Property and which are due and payable in the year in which Closing occurs, shall be prorated to the Closing Date and Seller's portion shall be paid by Seller at Closing.
Current Year’s Taxes. All real property taxes which have become a lien on the Property (“Taxes”) and which are due and payable prior to the year in which Closing occurs, shall be paid by Seller at or prior to Closing. All Taxes which are due and payable in the year in which Closing occurs shall be prorated to 90 days after the Closing Date and Seller’s portion shall be paid by Seller at Closing. This proration shall result in Seller’s payment of Taxes from January 1 to the date the Lease terminates and Buyer’s payment of Taxes from the day after the date the Lease terminates to December 31.