Complicated options - squat, find heirs, or bid at auction

[Justin Hanson]

I’m working on my first deal and am looking for a little advice as it’s a bit complicated - property is in FL.

The property will be going to tax deed auction in a couple of months and I’ve had my eye on it for 6+ months because it’s abandoned, but looks like a gem. Details:

* The owner is a missing person (presumably dead)

* Next of kin seems to be his father (haven’t found mother yet)

* I don’t think father knows about the property

* Missing people can be declared dead after 5 years (2022) - I don’t know if this and probate happen automatically or if someone needs to file

Disclaimer: I may not understand the laws

Options

1. Squat and hope probate doesn’t happen and heir doesn’t take property within 7 years

2. Contact father day before tax deed auction to see if he has power of attorney or wants to sign a QC - if so, pay back taxes, move in and either do adverse possession (7 years) or go through probate

3. Wait for auction and hope nobody else bids

What do you all think?

[Wayne Brooks]

@Justin Hanson That assumes no one with an interest comes knocking within the 7 years.  Also, do you know if there are any mtgs/liens on the property.

@Davido Davido Sure, you can bring the taxes current, but the adverse possession process is a gamble.