Since property taxes are paid in arrears,the buyer will be responsible for paying them after closing.Suppose that the closing date on the home for sale is February 28th of a leap year (e.g. ,2012,2016,etc) .How many calendar days would the seller be responsible for when calculating his/her share of the property tax owed for the year in which the home was sold.
A) 58 days
B) 59 days
C) 307 days
D) 308 days
Correct Answer:
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