How to transfer property from the child of a deceased owner? Heirs.
Hello. I’m a seasoned investor of rural, unimproved land (15,000) transactions. Very often I get calls from the direct mail that we have been sending out for years from the children of deceased land owners. I have been passing on these deals for years but would like to work with someone who knows how to complete these transactions.
Here is a summary:
Seller: My dad (John J. Smith) just passed away. He owns property in Southern California, Arizona, Oregon, Washington state, and New Mexico. In the file are several letters you sent over the years regarding your interest in buying the property. I would like to sell it now.
Buyer (me): So sorry about your father. Let me ask a few questions. Are the properties in your father’s name? Did he have a will or trust? Do you have any siblings? Is your mother still alive? Are there any other heirs that you know of?
Seller: They are in his name as the sole owner (John J. Smith). He had no trust or will. I am an only child. My mother passed away several years ago. There are no other heirs. I’m willing to basicly give these properties away so we don’t get the tax bills any more.
Any insight would be greatly appreciated.
