How can I wholesale a home with a life estate?

Question

I found a distress property with a life state. The person that has the life state died last year and the prior owners are dead as well. How can I search if there is an heir? I will highly appreciated some guidance:)

Lynnette E. · Answer

You will need to check with the local recorder of deeds and a title company to see if this works in your area and if this is not correct, they will tell you what is the correct process.

To close the life estate you need an original death certificate.  So see where they died, buy an original death certificate and then that certificate needs to be recorded for that property.  That should close out the life estate part of the deed.

To find heirs of the prior owner, the fastest and easiest way is to ask the tax collector's office who to and where they send the tax bill and if it has been paid since the last recorded owner's death.  They often find out who is taking responsibility for the property pretty fast.

You can also search on-line obituaries for the past owner's death and see if they list heirs.  Often they do.

You can see if probate was opened for the death of the past owners.  Let the probate attorney of record know you are interested in buying the property.

And sometimes you can just ask the neighbors.  They may have a contact for the heirs.

Laura Cerpa · Answer

@Lynnette E. Thank you so much for your help Lynnette! I really appreciated!! 🙂