Hello all,
I was looking at a parcel of land on the tax assessors website this afternoon to see if the owner was the same as the parcel across the street, the records stated that the owner was “Jane Doe and Bank of Banks” I havent seen a property listed like that before and was wondering if someone could fill me in?? Who owns it?
thanks
Luke
What if the property was taken by foreclosure after the owner died and quit paying the bills. Perhaps the owner did not have a will, and died intestate. The state appointed an executor. The executor’s search for possible heirs found none living and those individuals probably had heirs that had not been identified at the time of the foreclosure proceeding.
Since the bank could not complete service to everyone with a vested interest in the property, title was granted to “Jane Doe” and Bank of Banks as co-owners. After some period time, if the bank is unable to locate any heirs, the bank will petition the court for a quiet title action to obtain clear title.
Just guessing at a scenario that could fit. I could be way out in left field too.
If there are no heirs, the assets would be assigned to the state.
My guess is that the property belongs to someone named Jane Doe. People really actually do nasty things like that to their own children.
I suspect there was no will, there probably were heirs that had not been identified and located prior to the foreclosure.
Jane Doe is a pseudonym which acts as a placeholder for the heir, or heirs, to be named later.
thanks for taking a shot at it guys.
I think you may have misunderstood me slightly tatertot, I was jsut using “Jane doe” inplace of the persons real name. Im just trying to figure out if a bank owns it or a person owns it, never seen a property listed with two owners, one being a bank.
thx guys