In my few years of doing research in real estate I have not come across anyone mentioning this type of lien! Albiet it is a lien like any other I have some questions on what I CAN do!
I found a property with 2 homes that need extensive repair. It’s a fantastic investment all around even with just one home. It was listed on the MLS for $90k (dropped $5k the last month it was listed; then the lsiting expired.). The original owner (who inherited it through will from the death of his mother) died 10/10, his will gave all of his possessions including the property to J. I have looked at the tax information and title information as much as I could online. It still lists only the original owner. I ordered a PAR report and that is how I found the exact amounts for the Dept of Human services Estate Admin Unit lien and the tax revenue liens. I knew about both of them prior but didn’t know details. Total liened against the property (without interest yet) is $55,441. Now when I got the PAR report it did NOT list the person who owned it! It still also said “heir of xxxxxxx” (death cert is noted on assessor’s tax roll). I called the title company back and they were kind enough to send the court case of the claiming successor.
In the information that was filed I can view the will of the original owner, I have the address of the person he left it to and I have contact information for the specific person who filed the lien/interest when the claiming successor filed his motion. I believe I have all the players! HOWEVER…WHICH ONE is actually going to have the title? Which route is the best way to aquire this property?
It was just under 1 year ago that the last paper was filed (an amended claiming successor motion). I don’t know if there is supposed to be a judgement or order to finalize the transfer or if it is simply a wait a certain time period before recording himself as the owner OR possibly he simply wanted to sell it to get some profit but is finding it may not be worth his time so he should NOT put himself on the deed.
Can I directly purchase ownership through the dept of human services? Or should I try to tax over the tax liens because they are the first lien? I don’t think the dept of human services CAN foreclose? Can I force foreclosure to my benefit? The legal work for heirs etc has basically been done for me. There is ONE cousin of the deceased who could have claimed the property but has NOT (and he was notified of the proceedings) shown interest. I believe the limitations are up for the cousin in every aspect. So legally the ONLY personal entity who has an interest is the successor. I have considered buying a quit claim deed but the risks are pushing me to ask more questions!
Experience, knowledge, want to figure out a new aspect of investing?
Thanks for the help! Danielle