REO with previous owner in jail ?
Looking at a REO property which is in a good neighborhood and could potentially be a good investment for buy and hold strategy, however, I heard that the previous owner was arrested and bank foreclosed the property couple of months back and listed as REO. I heard that owner was in jail and perhaps in jail even now but not sure. If the deal works out with bank, would there be any legal liabilities as a new owner and/or what I should be careful about while buying this property where there were some legal issues with the previous owner ?