So I met a guy who is being foreclosed on. The home is still in the name of his dad who died 10 years ago, he never changed it. How would I go about buying this house from him?
So I met a guy who is being foreclosed on. The home is still in the name of his dad who died 10 years ago, he never changed it. How would I go about buying this house from him?
Thank you.
Depends on if it went to probate or was set up in trust, living will, etc. See what the kids says first, then you can always consult a RE lawyer and see how to get it deeded appropriately.
So I met a guy who is being foreclosed on. The home is still in the name of his dad who died 10 years ago, he never changed it. How would I go about buying this house from him?
Thank you.
Depends on if it went to probate or was set up in trust, living will, etc. See what the kids says first, then you can always consult a RE lawyer and see how to get it deeded appropriately.
He is depressed and having a hard time remembering all the details. I'm not sure he would know this information.
Lender · Patterson, NY · Member since 2017 · 488 posts · 186 votes
4y
You have said that he does not own the house. Therefore, you cannot buy it from him.
If there was a will, probate is/was in order. Without a will, absent any other names on the deed, a court proceeding will be necessary to determine who or how many now own the house based on heirship.
You have said that he does not own the house. Therefore, you cannot buy it from him.
If there was a will, probate is/was in order. Without a will, absent any other names on the deed, a court proceeding will be necessary to determine who or how many now own the house based on heirship.
Much success
Bob
What kind of court proceeding and how do you set that up. How would the alive child living in the home not own the home by default barring any legal documents stating otherwise? Seems strange.
Lender · Patterson, NY · Member since 2017 · 488 posts · 186 votes
4y
Each state is different. Without legal transfer of title, the dad, or his "estate" owns the house. Title needs to be in the name of, or through someone who, can sell it.
Each state is different. Without legal transfer of title, the dad, or his "estate" owns the house. Title needs to be in the name of, or through someone who, can sell it.
Rental Property Investor · Palm Springs, CA · Member since 2022 · 6 posts · 0 votes
4y
Verify with the county property appraiser's office to confirm the legal owner of the property, if still in deceased dad's name, consult a probate attorney as to how to properly buy the home.
So I met a guy who is being foreclosed on. The home is still in the name of his dad who died 10 years ago, he never changed it. How would I go about buying this house from him?
I've done several Arizona probate deals and they are difficult to close. Here's what I had to do:
1. Get a death certificate
2. Get a probate attorney for the estate (plus pay the legal fees because the family members were all broke) and follow the legal steps required
3. Get all heirs to sign the petition
4. Get all heirs to sign the deed to you
It takes about 3-4 weeks IF everyone cooperates. That's the trickiest part of it. Good luck!
This is perfect advice...I'd like to piggy-back on this advice and add that if you are able to do the above, also see if you can postpone the foreclosure by providing the contract with your future closing date to the judge (assuming the foreclosure auction date has been set and you even have enough time to complete the necessary probate issues AND stall the foreclosure at the same time). Best of luck!!
So I met a guy who is being foreclosed on. The home is still in the name of his dad who died 10 years ago, he never changed it. How would I go about buying this house from him?
Thank you.
Hi Ben.
This sounds very messy. Is the opportunity so amazing it's worth trudging through it?
What is the time frame on the foreclosure? He never changed it? That's a toughie.
So I met a guy who is being foreclosed on. The home is still in the name of his dad who died 10 years ago, he never changed it. How would I go about buying this house from him?
Thank you.
Hi Ben.
This sounds very messy. Is the opportunity so amazing it's worth trudging through it?
What is the time frame on the foreclosure? He never changed it? That's a toughie.
I like the house and location and want to help them out. It would be nice. Middle of May is the foreclosure auction date.
I've done several Arizona probate deals and they are difficult to close. Here's what I had to do:
1. Get a death certificate
2. Get a probate attorney for the estate (plus pay the legal fees because the family members were all broke) and follow the legal steps required
3. Get all heirs to sign the petition
4. Get all heirs to sign the deed to you
It takes about 3-4 weeks IF everyone cooperates. That's the trickiest part of it. Good luck!
1. He has a death cert
2. The sibling that I'm dealing with says he is the legal executor of the estate (is that what it's called?) Does this help? He says this is why it is still in his dads name he didn't do anything about it.
Attorney · AL · Member since 2018 · 54 posts · 36 votes
4y
I see this a lot in Alabama: We call it Heir property, pronounced "Air property" for a reason. The son doesn't own it and no one can convey it without the court getting involved. In Alabama, all real property automatically passes upon death, but all real property must go through a probated estate to confirm who is the legal heir. Even small estates that qualify under Sections 43-2-690 through 696 must go through probate to convey real property. Heirship affidavits DO NOT convey the property, but they can establish a claim of right to quit the title on. Tax deeds, adverse possession, wills, and heirship affidavits all provide a claim, but all require an order by the court to convey marketable title.
Only real property that was conveyed (e.g. right of survivorship) before death can avoid probate. Here the will is obsolete because the estate waited too long, so probate will be more complicated and expensive because the Court will treat this as a "intestate" estate and all potential heirs must be notified because they all have a claim.
There are legal tactics that an investor can use in these cases that may bypass the probate process but there is no easy way for any heir to sell the property.
I've done several Arizona probate deals and they are difficult to close. Here's what I had to do:
1. Get a death certificate
2. Get a probate attorney for the estate (plus pay the legal fees because the family members were all broke) and follow the legal steps required
3. Get all heirs to sign the petition
4. Get all heirs to sign the deed to you
It takes about 3-4 weeks IF everyone cooperates. That's the trickiest part of it. Good luck!
1. He has a death cert
2. The sibling that I'm dealing with says he is the legal executor of the estate (is that what it's called?) Does this help? He says this is why it is still in his dads name he didn't do anything about it.
3 & 4. He says this is possible
If he is the legal Executor, the property has been probated. Ask to see the grant, or search and pull court dockets to confirm. Pull the foreclosure documents to see if redemption still exists, and if so, write him an offer for clear title. He may need help with an attorney, and you should use one for specific language. If redemption has expired, your offer then goes for judicial review, along with any other offers.