All Forum Posts by: Ed Tamayo

In Georgia you can't set foot on the property  or unilaterally decide that the property needs securing before doing a foreclosure of right to redeem. 

In case like that, I would first, try to get a quit-claim deed from the former owner and if that fails I would try to get a court order. I would think that under some circustances a court would grant access to protect the property. 

Hi, If anybody on this forum is going to the Gwinnett county, Georgia tax sale auction tomorrow Tuesday April 4th, 2017. I would like to meet and exchange notes.  

The answer would depend as to why there is a difference. If the answer is because the one getting the larger portion of the profits is providing knowhow or work, the answer would be no. 

I have my personal account at Chase and the local branch location is convenient to me  so I though I would give it another try.  I called the branch and somebody told me there that "a Dodd-Frank regulation given in 2015 forbids them from opening bank accounts funded with retirements accounts"

I think  they are talking about the "fiduciary responsibility"  regulation given in 2015 by which financial advisers have the duty to  provide financial advise that will actually benefit the client and not just rack up fees and commissions for the "advisors".

The guy at the bank said that the new Trump administration is going to take away that and they might be able to open checking accounts for SDIRA in the future.

I just find this whole thing odd. 

Hi,

I went today to open a checking account at Chase Bank and I was told that they do not serve SDIRA LLCs. 

I have opened accounts for the same LLC in two other banks in the last two years and I had no problems with it.

I think this was just ignorance from the part of the particular Chase employee and whoever he  "consulted it with"  but I wonder of somebody has run into this before?

I selected MainStar Trust for a SDIRA because it had low fees and it appeared that they would accept the LLC incorporation papers that were not prepared for an attorney. (I am not an attorney but did the paperwork). Still, at some point of time, they wanted an operating agreement signed by a ERISA Attorney and I had to pay $1,000 to get one. The ERISA attorney's "super special" operating agreement was essentially a few pages of a basic operating agreement followed by 60 pages of actual Laws and regulations about SDIRAs. This document was accepted by the IRA custodian.

 I liked Equity Trust but, If I remember correctly, they explicitly stated they wanted documents prepared by a lawyer.

If the company is not an active entity , it can't transfer the property to anybody and would have to be reinstated prior to any transaction OR the seller would have to transfer the property to her name under a probate. Also, sounds strange that an an ex husband would leave property to an ex.  You might end up buying a property from somebody that does not have authority to sell. 

Should you do go ahead with the deal I would say that you absolutely have to get title insurance.

Are you talking about GSCCA? This is a good place for titles (warranty deeds and the like) and it should have all liens but I have found that not all Security Deeds show up there.

For example, I do have a mortgage and a security deed on my house but it can't be found on GSCCA.

This topic interests me so I will answer on the hopes of getting an update from the original poster as to what happened. 

If those 2 individuals from who you obtained quit claim deeds are in fact heirs, then you own an interest on the property regardless of who paid the taxes.   

would you let us know what happened?

I would like to know if in Georgia one needs to file an Action with the courts as part of the Foreclose of the right to redeem.  For example, in Arizona one would file an Action and then  obtain a Judgment. Is that the case in Georgia?  Thanks much for any light on this subject.