Vacant, owner deceased, not in Probate yet.... - Posted by C

Posted by Kristine-CA on February 03, 2005 at 10:40:30:

Skip the idea of purchasing the note for now–you can’t buy from MERS
–they are not the owner of the note. If it were me, I’d call the
administrator and find out what the story is. Kristine

Vacant, owner deceased, not in Probate yet… - Posted by C

Posted by C on February 02, 2005 at 15:09:48:

…with better research!

So here’s the information. The first is foreclosing on the house.

FMV = 270k
1st = 130k + 10k in arrears

The owner died 12/15/2003. Probate was opened on his estate on 2/17/04.

His heirs are three sons, a brother outside the country, and his ex-wife.

His ex-wife has been named as the administrator of the estate. Of the property that he owned, this property wasn’t listed as part of the estate.

My gut feeling is that this house was something that the decedent never mentioned to his ex-wife. I have a current address on the ex-wife, so contacting her won’t be a problem.

When he died, this property was somehow missed during the inventory, and is now in foreclosure.

So, do I have any options here? I assume that the house needs to be probated, but can I get some sort of deed before this?

I’d hate to see this house go to sale and miss a great opportunity.



Re: Vacant, owner deceased, not in Probate yet… - Posted by Kristine-CAk

Posted by Kristine-CAk on February 02, 2005 at 16:00:33:

Fun stuff, huh?

Have you looked at the deed to make sure that the deceased owner is
the only owner of record? Was it owned in a trust, perhaps?

Did the owner die without a will?

Whose is the first owned by? Have you thought of contacting them and
buying it from them?

If it were me, I’d call the Adminstrator and see if you can get her to do
the talking and find out about why the house is in foreclosure.


Re: Vacant, owner deceased, not in Probate yet… - Posted by C

Posted by C on February 03, 2005 at 01:46:53:

Actually, this IS pretty fun! It’s like a game where I don’t know what the rules are… yet.

I haven’t looked closely at the deed yet. When I looked at it before, it certainly just had his name on it. But then again, it could easily be John Smith Trust. I’ll check again tomorrow.

Where would I check to see if he died without a will? Would it be part of the Petition for Administration that his ex-wife filed?

The first is owned by MERS(or rather being serviced by, I guess). If I were to buy it from MERS, how would I make a profit? I would have to buy at some sort of discount to make money right? Or, because of the probate situation, there’s a way for me to get the deed?

Yeah. I think I will call her up tomorrow. It might wierd her out if I just show up on her doorstep, no?