Here a question:
You locate a vacant property you are interested in purchasing. You check the tax records and find out that the owner of the property actually lived at the same address. How do you go about locating this missing owner and obtaining that property?
Any help would be appreciated.
How long has it been vacant? Are the property taxes up to date? There is a statute of limitations with vacant properties that have tax liens on them. If it is passed that set time, (I’m almost positive it’s 5 years, just can’t remember if that is a state law or national) it escheats(reverts) back to the state. In that case you buy from them. If this doesn’t hold to be true, get his name do some internet searches or check with the post office
The statute of limitations on a property owner reclaiming their property from a state tax lein varies from state to state and is usually longer for their homestead than for any investment properties they might own.
all u can do is search for them. talk with the neighbors. u can hire a skip trace co to look for them but be sure to also ck the updated court records first because the current owners may be a new private party or the orig lender. the owners may have been or are in the process of being foreclosed on. the ownership records may still reflect the orig owners even though the bank owns the properties, this is y u need to go to the courthouse. see if there was a lawsuit filed by the bank
Thanks guys.