No Probate, No Title, No Mortage---but Taxes
my grandmother passed away 10 yrs ago and didn't leave a will in texas (heirship doc was created though). the family has not kept it up or collected rent the past 3 years. I learned of this only last year since grad from college and since then the renter has paid me rent 4 times in the past year. He is overdue 4 months now. question is, what are the consequences for letting the state foreclose a tax lien on the property and be done w/ this open wound and just walk away--cost v benefit (will this affect credit ratings on the heirs, tax warrant issued to heirs, etc)? keeping in mind that because of the low value, no probate was accomplished as it is not mandatory and so the title still sits in her name (fyi: i took the rent paid and put it to pay down some of the taxes and had the tax office change the address of record to my own but recently changed it back to the property (squatter's) address)
Any advice would be appreciated.
[ Edited by hildago on Date 03/11/2004 ][ Edited by hildago on Date 03/12/2004 ]
Comments(0)