Q: Allodial title to my property my full ownership and tax laws. Also I am retired.
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A:
Allodial title refers to a property ownership concept where the owner holds the land free and clear of any superior landlord. In the United States, true allodial title is virtually non-existent. Instead, most property ownership is under a fee simple title, which means you have complete ownership but still must pay property taxes.
As a property owner in Wisconsin, you will need to adhere to state and local property tax laws. Even in retirement, property taxes remain a requirement. Failing to pay these taxes can result in liens on your property and potentially losing it through tax foreclosure.
To manage your property effectively and ensure compliance with tax laws, it's crucial to stay informed about your obligations. You might consider budgeting for property taxes as part of your retirement planning to avoid any issues. Understanding your rights and responsibilities can help you maintain your property and avoid legal complications.
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