Episode Details

New York City’s new pied-à-terre tax is hitting homes not used as primary residences, with audits stretching up to six years—and the fallout could ripple through co-ops, trusts, and real estate deals. New owners may inherit unpaid taxes via liens, co-ops face costly collection hurdles, and trusts may lose primary-residence status if multiple beneficiaries are involved. Sellers will need to prove residency, and buyers may demand tax records—making every deal more complicated than ever.

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