Inherited Property, can I buy it?

4 Replies

Hey guys,

So I have a property I want to put under contract in Ohio. The seller basically wants out and are willing to almost give it away. They have some back taxes and its going to auction on August 1st so they agreed to sell it to me.

One issue, the owner passed away and there was no will left for the house. None of the children, except one, wanted anything to do with the house so he paid it off and moved in.

Would I still be able to purchase the property and let them decide who gets the money later? How do I get around this? Keep in mind the auction is on August 1st, so I have a little less than two weeks to close.

TIA!

Get a title company or attorney if you want to settle before auction. It may be too late already. You most likely will need to have the whole family sign off. You may have to buy it at auction.

There is a lot of information that seem contradictory. So the owner is not the seller?  What exactly did the one child pay off?  A mortgage?  The back taxes?  Both?  I am not an expert on inheritance law, most states require probate court if an estate is intestate.  You can google inheritance law in your state and find out. 

The big question here is who is the legal owner of this house?  It sounds like the new owner is the child who paid off the house and is now living there and I would not be surprised if it is no longer going to auction. Is he/she interested in selling?  Have you spoken to them?  If it is still going to auction on August 1st why not buy it then?  You would have at least purchased it at a legal sale. Either way this could be an absolute nightmare for getting a clean title.  Is this property really worth it?  

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@Yvonne Harnischfeger I’m wholesaling the property. So chances are I wouldn’t be able to pick it up at auction.

So the owner, whose name is on the deed, has passed. The son of the owner paid off his mortgage and has lived there ever since.

The other potential estate beneficiaries don’t want anything from the property so they’ve essentially left him as the estate executive.

Ok that makes more sense.  I did a quick search on probate law in Ohio (https://www.nolo.com/legal-encyclopedia/intestate-succession-ohio.html)...I am not an attorney, but it appears that all of the surviving children now own that property.  Provided there is no surviving spouse.  If I were you I would consult with an estate/probate attorney and see if you can't draft a new sale with the surviving children. I hate to see you miss out on an opportunity especially if the children are open to sale.  Best of luck to you!