Does EVERYTHING go thru probate? - Posted by Wilton

Real Estate Investing
#1

Posted by Michael Morrongiello on July 24, 2001 at 22:01:17:

If the individual died without a will, then they are said to have passed away “intestate” -or without having a valid will or where their wishes to bequeath were not outlined in a will.

Most jurisdications have a means for dealing with the assets of such a decedent including Real Property.

Consult with a COMPETENT Real Estate Attorney in your area to formulate a stratergy on how you may be able to petition this court and acquire this property. Quite frankly it may have to be sold at auction.

To your success,
Michael Morrongiello

#2

Does EVERYTHING go thru probate? - Posted by Wilton

Posted by Wilton on July 24, 2001 at 21:35:04:

The property is owned by john jones. John dies, with no will and no known relatives. This property has been vacant for 2 years. Taxes have not been paid since his death. Must this property go thru PROBATE, if not what happens to the property. Obviously, if taxes are not paid, the property will be sold for taxes, but can someone buy this property? What needs to be done , if possible at all, to clear title. Thanks in advance, Wilton

#3

Re: Does EVERYTHING go thru probate? - Posted by Ronald * Starr

Posted by Ronald * Starr on July 26, 2001 at 20:35:45:

Wilton-------

There is “adverse possession.” You take over the property and make it your own. Without paying the former owner or the former owner’s heirs. The situation you describes sounds like the ideal place to do it.

Get into your state law books on the topic.

Plan to just take over the property and start renting it out. Then, when you have saved up the rental money for a while, go pay off the taxes. Continue to pay the taxes, continue to collect the rent.

You need to check for a mortgage first. If there is one, there may be a foreclosure looming. If it is low enough, you might want to start paying it down too. If there is no mortgage–GREAT.

Opportunity is kicking you in the shins or behind. Get moving quick before somebody else jumps on the property.

Good InvestingRon Starr***********

#4

Re: Does EVERYTHING go thru probate? - Posted by Kim

Posted by Kim on July 25, 2001 at 16:26:57:

Here in OH we are a no tax lien certificate state. Have to wait and purchase at auction if can’t get to owner first.(Assuming owner is alive)

#5

Tax certificates - Posted by india

Posted by india on July 25, 2001 at 10:52:16:

Couldn’t you pay the back taxes on the property and then foreclose?