Father Died And Only Son Wants To Sell Me Property,but....
...father did not leave a will. How do I go about finding out who this property goes to? What does the son need to do in order to claim the property of his deceased father or can he even do so if there wasn't a will??
Please help...this could be my first deal b/c family is out of state and the property has been boarded up by city.
Thanks all.
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Do a Title search. This will allow you to see everything that is going on with the property.
I would start there especially since house is boarded up. The city may already own the property
Lori
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Thanks tinman..excellent advice.
What if it turns out that the city does indeed own the property? Is it saleable?
I checked the county records and it still has the father as the owner.
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How long ago did the father die?
How long has it been boarded up?
Did the father live in the property?
Did the father live in your state or with the son or elsewhere?
Where I live the original owner never comes off the deed until the city sells then there is a double deed closing. One for the sherriff and one from the sherriff to you.
That maybe the case in your town, check with the sherriff's dept or clerk of courts
Lori
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The father died 11 years ago. I am not sure how long it has been boarded up but can find out. County records show the father's residence in Jamaica,NY. I just got off the phone w/ my lawyer about 15min ago and she informed me that there was away to circumvent having to go thru probate being that he is the only child. This will result in a quicker turnaround time for him to claim the property and sell to me.
Quote:
On 2004-11-09 09:19, commercialking wrote:
How long ago did the father die?
How long has it been boarded up?
Did the father live in the property?
Did the father live in your state or with the son or elsewhere?
[addsig]
If the father died 11 years ago why didnt the son claim it before? If it has been 11 years with out anyone living in it you should vist the property before doing anything. !! years and no one paid the taxes? Going to be one heck of a tax bill on it. This is one deal in my opion I would tread lightly and check everything out not once but twice you could get bitten very hard on a deal like this.
Tax bills are 4500. '97 is when they stopped being paid. I may just buy the tax lien b/c I pretty sure no one is going to pay it off or claim the property. If I chose to go this route, how does the process work? And how big of a discount should I expect the city to discount the tax bill??
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Quote:
On 2004-11-10 15:38, shamund wrote:
Tax bills are 4500. '97 is when they stopped being paid. I may just buy the tax lien b/c I pretty sure no one is going to pay it off or claim the property. If I chose to go this route, how does the process work? And how big of a discount should I expect the city to discount the tax bill??
I would expect the taxing authority to say "no discount". It has a lien on the property which continues to earn interest. Eventually the taxing authority will forclose and then sell the property. (Why it hasn't done so if the taxes haven't been paid since 1997 is a question. Maybe it is wealthy enough that it doesn't need the cash immediately?)
How long you have to wait depends on the State law; contact the taxing people>