Transferable Tax Liabilities on Real Estate.

The following comments are divided along five lines. In the first section, I consider different forms that a contract for property tax transfer might take. The second section demonstrates why it may be economically sensible for someone to agree to pay someone else's property tax. The third section speculates on what the consequences of an unbundling of real estate ownership and tax liabilities might be. The fourth section discusses difficulties facing such a tax transfer system. Based on these difficulties, the fifth section attempts to explain why this separation of ownership and tax liability is not generally seen. [ABSTRACT FROM AUTHOR]