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How do we Handle Residency When We’ve Left our US Home to Foreclosure?

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How do we Handle Residency When We’ve Left our US Home to Foreclosure?

Q&A: How do we handle residency when we’ve left our US home to foreclosure?

Q: In July 2009, we “walked away” from our Ohio home, deciding to leave it to foreclosure. As we are officially homeowners in the state of Ohio, until such time as foreclosure occurs, does Ohio still consider us as residents and subject to Ohio state taxes?

A: Residency, especially if you don’t have any economic ties to the state, is up to you. If you don’t intend to return to Michigan then you can renounce your statehood.

Every year, we help hundreds of expats and high-net-worth individuals navigate complex tax matters. We’d be glad to help you too.
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