All Forum Posts by: Derek W.

Approximately a year after making the deal with her, she called and explained that she had some health problems and had racked up some medical bills. She asked if I could pay off the $28,500 balance. I asked her how much the bills were. She said around $15,000. I asked her "in the event that I can get your medical bills taken care of, is there any reason that you wouldn't give me a reconveyance and call it even?" (Bonus points to anyone who knows who I learned that question from!)

She gladly agreed. I got a statement from her billing company and called them to explain that I would be responsible for taking care of my dear family friends medical bill. Of course, "due to the large amount, do they have a payment plan?" (Of course they do)

So I was able to get a principal reduction on the note, take care of her medical bill, get a free and clear house, and still not come out of pocket with any money. 

Daily, Monday through Friday for Foreclosure trustee sales. 

In California, which is where the OP property is located the law states 

"In order to assert a claim of adverse possession in California, the claimant (party seeking to gain title to the property) must demonstrate: ... adverseand hostile possession; continuous possessionfor a period of five years; and. payment of all taxes assessed against the property during the five-year period."

AP Laws differ from state to state. Make sure to Check your local state laws

@Vivek Khoche this is probably a thread hijack, sorry in advance for straying off topic, but I'm confused about your reference to tax value and any hint that tax value has anything to do with a properties actual current value. 

@Richard Bailey if you read the entire thread, we already discussed TLO and many of us are users of it. It's helpful, but still very incomplete. 

@Paul Amegatcher have you found been verified to be useful in finding missing owners? Do you know how it compares to TLO?

apparently @Richard Bailey doesn't have that great of a system if he can't reply to share what it is, huh?

I think @Adam Phebus may have mixed up his auction info. There are many different dispositions of real estate that all use the term auction. A probate auction, a trustee sale and online or live auctions companies while all auctions are very different in procedure, rules, etc. 

Here is a great link that outlines the process. 

https://www.avvo.com/legal-guides/ugc/transferring...

Turn around time depends on individual referee for your area. Could be a few weeks, or a month or more. 

in California there are multiple tiers of transfer rules. As @Rick H. mentioned, an estates referee (appraised) value determines which type of probate should be used. If you believe the lot is worth less than 20k Contact the referee and send Form DE-160 to the referee.

Based on the referee value, you then know which level of probate is required. Less than 20k, no probate required. Just a few forms. Less than 50k is a very simple probate. Less 150,000 has different rules still and over 150,000 is a full probate.