I found a great property in Austin, Tx but the person that owns the property is deceased only one contact number called and haven’t heard anything back. What should I do next? I’m a new investor learning as I go and I want to make the right choice.
Rental Property Investor · Olympia, WA · Member since 2012 · 543 posts · 311 votes
6y
If the deceased had a will, then verify who was granted the property in the will, find that person and negotiate. If there was no will then check out the Texas law on intestate succession for real property https://www.oldrepublictitle.com/media/3182/tx-intestacy-chart.pdf and start contacting the relatives of the deceased who have an interest the property. Probate is the normal course, but it is not the only one. You can get deeds from the heirs that grant you their interest and just start using the property. In fact, if the property is abandoned in the legal sense, (the owner or heir intends to give up all their interest), then you don't even need a deed to start using the property. https://www.biggerpockets.com/member-blogs/12388/86727-renting-without-owner-permission-can-this-be-legal-even-semi-legal But not many people are suited for that approach. Best wishes.
Alexandria, VA · Member since 2017 · 22 posts · 12 votes
6y
@Jonathan McEachron You have no choice but to wait for the house to go thru probate and theres no guarantee that who inherits it even wants to sell it.
Rental Property Investor · Olympia, WA · Member since 2012 · 543 posts · 311 votes
6y
If the deceased had a will, then verify who was granted the property in the will, find that person and negotiate. If there was no will then check out the Texas law on intestate succession for real property https://www.oldrepublictitle.com/media/3182/tx-intestacy-chart.pdf and start contacting the relatives of the deceased who have an interest the property. Probate is the normal course, but it is not the only one. You can get deeds from the heirs that grant you their interest and just start using the property. In fact, if the property is abandoned in the legal sense, (the owner or heir intends to give up all their interest), then you don't even need a deed to start using the property. https://www.biggerpockets.com/member-blogs/12388/86727-renting-without-owner-permission-can-this-be-legal-even-semi-legal But not many people are suited for that approach. Best wishes.