Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
I'm a new investor, seeking legal advice!
I am a new investor and I was fortunate enough to buy my first property (a trailer) from my mother.
Quick back story: My mother is the previous owner, but she bought it to help my older brother. He was suppose to put the title in his name after she signed it over to him in 2018. He was not keeping up with the lease agreement, so in 2019 an eviction was filed by the property manager of the trailer park. According to my brother: he sold the trailer, moved a family in, and moved out before the eviction was carried out. We just found out that he was not being honest. Not only did he not change the title over to his name, but he never sold it, nor did he move a family in. He abandoned it, and it's still in our mother's name!
Fast-forward to January 2020: My mother spoke with the property manager of the trailer park. According to the manager: the trailer is now condemned, and there is a balance owed. My mother does not want to deal with the trailer anymore. I saw this as a golden ticket, so I offered to buy it from her. I spoke with the property manager (to tell her I was going to be the new owner and discuss a lease agreement), and she told me the same thing she told my mother: condemned, balance due. I went to the courthouse to do some research and to my discovery, there is no lien on the title. I called Code Enforcement, and the property is not condemned. There was an eviction filed in February 2019. It's been a year!
My question is: As the new owner, am I legal obligated to pay the balanced due from my brother's negligence? Keep in mind: she could have had the trailer removed, and she could have taken a lien out. She did neither of those things.