Help! Law Suit Threat
Back in June, I took over a property sub2 bad news is I was ignorant in many ways. Had the paperwork done but the lady never picked up copies and the power of attorney never got completed or notarized. I neve got correct payment info and it was haphazard at best. She never got all her stuff out and for all I know it could still be there. I rehabbed the property, it was not livable when I got it. The ceiling was in the floor and the toilet was in the bedroom. Well, my life took a turn south along with my finances and payments were not made. Tried to reach the mortgage company and got nowhere. tried to reach the woman and got nowhere.
The place has been foreclosed on (never could sell it either) and now her :"daddy" has left a threatening phone call at my home saying "he's not going to let me get away with what I did to his little girl".
What in the world do I do now? Can't afford legal help. 
Well, there's no use to chide you for what you did and/or what you should have done. I'd wait until I'd see what the next move this guy is going to make. At that time it would probably be necessary to consult an attorney.
Good job for trying. However some times things go south. Things have for me but not in a fatal way. Did you own the property in a separate entity? That will be a good layer of asset protection. If not, shouldn't be that great of deal.
Good luck and make sure to contact an attorney if things progress.
Hard lesson to learn.
The deed was in a trust int hte name of the young womans family and another party was the trustee. The contract was MsPeach as Agent for xyz, LLC. If my memory is right and she never got copies of any of the paperwork, am I ok legal wise?
If the property was in the name of a trust then I assume you got the trustee to execute the deed. Otherwise there may have never been a conveyance to begin with.
In terms of your "legal protection" I wouldn't say your out of the woods. Assuming this person would actually sue you (versus threaten to sue), they could claim that they were defrauded (you said you were going to keep the mortgage current but had no intention to) and attempt pierce the veil of immunity that normally applies when you purchase via a legal entity such as an LLC. As a practical matter, if you have no money yourself I don't know what the other party would achieve by suing you for damages. If you can't hire legal counsel you should consider speaking to legal services or offer to settle the dispute.
The deed was conveyed. This property was in a complex with locked mailboxes. I never got a key to the mailbox....ms lady ma'm had the only key. She didn't return my phone calls. She had moved out of the property months before she delivered the property to me. She called me, I didn't solicit her. I paid money to rehab the place , I tried to stop the foreclosure but the foreclosing attorney would not talk to me and the mortgage company would not talk to me. I hope Daddy is just threatening.
Where is this property? I'm in Atlanta. Just curious.
It is in Cartersville. He father woke me up with a phone call this morning at 6:04 am. Let voicemail get it. Another threatening call. Tells me money means nothing to him and he is coming after me....doesn't care if it cost him a 1/4 million.
I will tape these messages and look diligently for the best attorney possible in the area...hopefully one who doesn't charge a huge retainer.
I have tried to get some type of insurance for things such as this but my agent has dropped the ball and so have I. Hindsight stinkith. Any suggestions out there?
I had the same type threat before. When they finally got on my nerves I gave them my att. # and said he would handle it from this point forward. Never heard from them again. If he has only called once, I would not even worry with him, but it does show education and asset protection is cheaper than law suites.
Best to you,
Sire
I'll say a hardy Amen to that! He has called numerous times, only twice left his threatening messages the rest are hangups.
Aside from the RE deal, he can't continually harass you by phone. And he certainly can't threaten you under any circumstance.
You are correct to get a lawyer ASAP and take care of the RE details and refer all contact to your lawyer.
If he continues to call/threaten, you have recourse via the phone company, district attorney and police.
you need to at least get a free consultation with an attorney asap.
You should contact a guy named Bryan Ellis in Atlanta, he is a master subject to investor, and offers free information at http://www.freerealestatetraining.com
Best of luck, Dave
For any newbies reading, this is a prime example of why you should have a solid understanding of the mechanics of a deal before you attempt to do one. Always know your in and out and everything inbetween. IF your going to put someone else's credit at risk, please make sure you know what you're doing and have the money to do it.
Thank you all so much for your replies. I have checked out the web site for Bryan Ellis and will give him a call first thing Monday morning.
Take heed newbies, there are risks involved and none of us can ever be overprepared or careless.
There are folks who never move or move to slowly and those of us (with some regret) who have no qualms about jumping in head first.
Ca$h, thank you for such a great board.
MsPeach....I wouldn't worry to much about it. You did your best for the seller, plus she was going to lose the property anyways. You have all the docs to show you did nothing unethical, you were just trying to help the seller out. (Daddy should have bailed his little girl out in the first place and none of this would have happened)
Once you find an attornery, have the dad just call him/her and tell him to stop harassing you before you press charges on him for his threats and annoying phone calls.