§ 44-4-8.1 - Apportionment of taxes upon sale of real estate.
SECTION 44-4-8.1
§ 44-4-8.1 Apportionment of taxes uponsale of real estate. – Whenever any real estate situated in this state is sold and conveyed to apurchaser, the tax assessed upon the real estate and the buildings and landimprovements thereon as of any December 31st shall, except as otherwiseprovided by contract of the parties involved, be apportioned as if theassessment were made in advance for the immediate following calendar year andshall be adjusted between the seller and the purchaser as of the date ofdelivery of the deed of conveyance, the seller paying for the period commencingJanuary 1st to and including the date of delivery of the deed of conveyance,and the purchaser paying the balance of the taxes.