All Forum Posts by: Devon Daniels

@Bryan Hartlen, sorry for the delay in responding. I did not receive notifications for several weeks, and have been so busy I didn't realize that much time had passed. Thanks @Ebony King for bringing this to my attention.

Bryan, you are incorrect regarding the law. To address each of your points:

• We can immediately take possession (change locks, trash-out, maintain the yard, etc)  ONLY IF THE PROPERTY IS LEGALLY ABANDONED, WHICH MEANS THE OWNER HAS EXPRESSED AN INTENTION OF NEVER AGAIN RETURNING. MOST PROPERTIES ARE VACANT AND NEGLECTED BUT NOT LEGALLY ABANDONED. IF NOT LEGALLY ABANDONED, YOU MUST FIRST GET AN EJECTMENT ORDER FROM THE COURT.
• - We can start the quiet title action immediately. Do we need to file for ejectment too?
• YOU CANNOT QUIET TITLE UNTIL JUDICIAL REDEMPTION RIGHTS BURN OFF THREE YEARS LATER. YOU CANNOT QUIET TITLE UNLESS YOU ARE IN PEACEABLE POSSESSION. SEE PRIOR ANSWER REGARDING POSSESSION.
• - If we start repairing (not improving) BEFORE the quiet title action has completed – any redemption would have to include the value (not cost) of our repairs and holding costs (finance, utilities, insurance, etc).
• IF YOU ARE IN LAWFUL POSSESSION AND IF THE PROPERTY CONTAINS A RESIDENTIAL STRUCTURE AND YOU MAKE PRESERVATION IMPROVEMENTS, THEN ANY REDEMPTION WILL HAVE TO INCLUDE THE INCREASED VALUE OF THE PROPERTY.
• - If we rent the property out BEFORE the quiet title action has completed any redemption:
  • - would not require us to pay any rents collected prior to the redemption?  IF YOU ARE IN LAWFUL POSSESSION YOU DO NOT HAVE TO TURN OVER RENTAL REVENUES TO THE REDEEMING PERSON
  • - our tenants may have to vacate with 30 days notice?  YES, SO YOU SHOULD INCLUDE A 30 DAY CANCELLATION CLAUSE IN YOUR LEASE IN CASE THE PROPERTY IS REDEEMED.
• - If we sell the property out BEFORE the quiet title action has completed – how would a redemption affect us?  REDEMPTION WOULD AFFECT THE NEW OWNER, NOT YOU.  TO PROTECT YOURSELF FROM CLAIMS OF FRAUD, THOUGH, MAKE SURE YOU DISCLOSE THE POSSIBILITY OF REDEMPTION AND HAVE THE NEW OWNER SIGN OFF