Whenever any real estate situated in this state is sold and conveyed to a purchaser, the tax assessed upon the real estate and the buildings and land improvements thereon as of any December 31st shall, except as otherwise provided by contract of the parties involved, be apportioned as if the assessment were made in advance for the immediate following calendar year and shall be adjusted between the seller and the purchaser as of the date of delivery of the deed of conveyance, the seller paying for the period commencing January 1st to and including the date of delivery of the deed of conveyance, and the purchaser paying the balance of the taxes.
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