If I buy a property by installment, when should I start paying the Realty Tax?
REALTY TAX:
Real Estate tax and assessment on the lot or unit shall be paid by the owner or developer without recourse to the buyer for as long as the title has not been passed to the buyer. However, if the buyer has actually taken posession of and occupied the lot or unit, assessment effective the year following such possession or occupancy shall be paid by the buyer.
The term of payment shall be annualy or quarterly. Annualy if paid within the first quarter of the current year and if quarterly, the cut off is every end of the quarter.
