Posted by Terry (Houston) on July 24, 2001 at 09:00:57:
ownership.
Take it over subject to or put the property into a trust with a portion of beneficial interest. This gives you ownership.
Or just get a Power of Attorney that allows you to handle all matters pertaining to the property. I am sure they cannot make an elderly sick person show up if you explain to the judge.
Best of luck.
Find out your laws, quick.
Help Get This Guy Out of My Profit! - Posted by SRister
Posted by SRister on July 24, 2001 at 07:57:54:
Need some direction here in Tennessee on a house I have contract on to buy that is money in the bank to wholesale. One problem…a person living there doesn’t want to move out. An elderly lady answered my out-of-towner letter and the person living in house hasn’t paid in over a year and she’s definitely been taken advantage of.
The guy thinks he has right to ownership from a contrat they did four years back. He doesn’t have a copy of the agreement and she had her copy burned in a fire. I’ve checked title and she is rightful heir and nothing else recorded against the property.
I first tried to bribe him to move with a few hundred dollars which didn’t work and then sent official looking certified letter stating back payment at minimum of last year and late fees totaling $3,300, or either eviction proceedings. He wasn’t too impressed in our conversations with leaving me with only option to evict him from property to make my deal happen.
Owner has signed property management agreement on property to me, however eviction knowledge and process here in Tennessee I’m weak on. My understanding is owner would still have to be present in court when judgement occurrs after filing eviction papers and she can’t travel in to make happen.
Please… Help me help this guy be a successful tenant for someone else!
Be Careful!! - Posted by Jim Kennedy - Houston, TX
Posted by Jim Kennedy - Houston, TX on July 24, 2001 at 12:00:12:
Be Careful!!
A couple of things that you said in your post have raised red flags in my mind.
You mentioned a contract that apparently did exist at one point since the lady admitted that her copy was burned in a fire. This would be my first area of concern.
Next, you mentioned that you “checked title and she is rightful heir …”. Does this imply that the property was in an estate? As the “rightful heir” has she gone through the process of getting the title vested in her name?
Then you mentioned that after trying to bribe him to vacate, you sent him written correspondence. Under what authority did you do so? If all you have is a contract to purchase the property, you probably don’t have the legal right to demand payment from him, unless you are doing so on behalf of the current owner. If that is the case, we now get to the fourth thing you said that gives me pause for concern. You wrote that you have a property management agreement with the owner. In most states, one must be licensed in order to manage property for someone else. I’m not an attorney and I don’t know the applicable laws in Tennessee, but you can bet that if I were in your shoes, I’d do some research and find out!
And finally, you admit that you are weak on the eviction process in your state. And yet you’ve already threatened the resident with eviction in your written correspondence.
Don’t get me wrong. I’m certainly not advocating that you abandon you efforts to profit from this deal. But I am strongly urging you to proceed with extreme caution and get some competent legal advice from a local attorney who specializes in real estate.
Hope this helps.
Best of Success!!
Jim Kennedy,
Houston, TX