deceased owner, no kids

General Real Estate Investing
1

Hi! I’ve been searching the forum but haven’t seen this exact situation for some reason. Maybe I haven’t looked hard enough :wink:

My prospect property is boarded up and probably condemned.

The owner is deceased since late 2006. She has no children according to the obituary.

First, to me, this sounds like a good opportunity. Would anyone disagree off the bat?

Second, where do I go from here? The probate courts?

The owner died in a nursing home. Would there absolutely be an executor for her estate?

Thanks!

Mike

2

WOW, sounds like a golden egg, could I get that address??? :biggrin

3

I would check the county records in the county where the property lies, and where the deceased 's last know residence was located to see if a probate had been opened to handle the transfer of her property.

4

Could this be an adverse possession situation? Do your research and let us know what you plan to do.

5

Wowwww, I’ve never heard of adverse possession. Until now. But the property is in PA and I’m in NY so I’m not going to be able to squat in it for 5 years. And I only want to sell it, not live in it and if I understand exactly what adverse possession is, it involves living in the property for 5 years.

But I’m going to make some calls tomorrow and see where I get with uncovering the details. I’m a newb and I’m working on my first property. If I got my hands on this one for dirt cheap, I’d be a pretty happy newb.

6

What if you just “take over” the property. Make repairs to get it rent ready, then pay the property taxes and operate it as a rental for five years just as if you owned it.

After five years, file an adverse possession suit to gain title. Even if your adverse possession action fails, you still have five years of rental income in the bank.

7

crap. I think that’s ruled out. If I understood the law that I just read, the adverse possession law is 21 years. I am more interested in quick cash anyway at this moment in time. But I’ll see where else I can go with it.

8

:shocked lol Well, it turns out EVERYTHING is out. I went to PA this weekend to search for more properties and I drove by my lil old lady’s condemned property to find… it’s gone!!! Vanished! I guess the city is knocking down as much condemned property as possible. My jaw just droppped. Oh well. Maybe I could buy the land for cheap! hahaha.

9

Wow. Where exactly was this house that they don’t give it a year before knocking down the house?

This is why the minute I find a property I check the sitch with the city so I can get it together. They didn’t even have anything posted regarding the demo of the house?