Property Manager · Boston, MA · Member since 2014 · 194 posts · 73 votes
Looking for advice and suggestions.
A neighbor that I never had 2 words with seemed to disappear from his dilapidated building and now it seems that squatters and rodents are looking for an apartment to occupy.
My serious question is what’s the process or how would I go about finding The Who what where when and why. Registry of deeds I get. Is there any other way I can find out if the bank owns the building?
As a neighbor of a neighbor stated to my handyman. The owner died a year ago. And it’s in the internet. But there’s no other information. Just an obituary. Now I have a great building that is the missing link to a gentrifying neighborhood.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
7y
Get a copy of the death certificate (this process varies state by state), check the probate files to see if probate has been started....in short, final an heir, make a deal, get probate started.
Rental Property Investor · Olympia, WA · Member since 2012 · 543 posts · 311 votes
7y
@Account Closed,
For a number of years, I’ve been in possession of and have been renting multiple vacant and apparently abandoned parcels of real property, both improved and unimproved. These properties where identified from their County’s list of parcels that are delinquent in paying their property taxes. (WA is a tax deed state in which counties file Property Tax Foreclosure actions after a property is 3 years delinquent). Each property was vacant and unmaintained, no one had paid the property taxes for at least 2.5 years, and the owner of record either could not be located with considerable effort or was found to be deceased. Upon compiling abundant evidence that the owners appeared to have abandoned these properties, I caused the properties to be cleaned up, rented them, and have since managed them almost as though they were my own.
Despite being in possession, I have no ownership interest in any of the properties. (Under the trespass law in my State (WA), an owner’s abandonment of real estate is a recognized defense to a charge of Trespass) https://app.leg.wa.gov/RCW/default.aspx?cite=9A.52.090. All rental agreements that I’ve made with the tenants of these apparently abandoned properties are month to month, and state clearly who the owner of record is, that the owner is currently absent for an unspecified length of time, and that the rental agreement may be terminated by me or the owner, if the owner returns.
Up to this point, the rents paid by tenants on these properties have gone into segregated accounts (not mixed with my own money). Where improvements were necessary in order to create a legally rentable space, tenants were offered discounted rent in exchange for making the necessary improvements. The tenants provided all needed labor, and the required materials were purchased slowly from the discounted rent paid by the tenant. Once a property was made minimally livable, any rents collected were deposited into the segregated accounts. After a property is livable (fully enclosed, power available, safe water, heated, etc.) all rents collected have been used only as necessary for property maintenance and to pay property taxes.
This has been a long process, the rents are generally low and the segregated accounts grow slowly, but growth is accelerating and now the segregated rental income accounts that I’ve set up is approaching mid five figures. Over the last five years no one has appeared to contest my possession of a property. They appear to be truly abandoned (WA law requires 10 years to adverse possess without color of title https://app.leg.wa.gov/rcw/default.aspx?cite=4.16.020). Since, WA law also has a six year statute of limitations to claim past due rent https://app.leg.wa.gov/RCW/default.aspx?cite=4.16.040
, I expect to soon have increased flexibility to use the money in the segregated rental income accounts that I’ve set up and control. For example, I could invest the funds in a loan to myself.