Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
This is similar to this post, however I actually met with the fiance of the person who is in jail. The story is that the property is owned by the person in jail, and the fiance has power of attorney for that person. The property is already a rental property so no issues with the seller living there. (I would keep it a rental property and keep the tenants.)
The fiance got thrown into "this real estate thing" (as she calls it) and doesn't have time for it. So she's agreed to talk to her significant other and if they sell, she can sign the docs for him.
I've never dealt with this before. In the other thread, it spoke about making sure that the person in jail doesn't come back and say that they were "coerced" into selling. However, this case is different because there is someone of sound mind who is looking after the seller's interests (apparently).
Wholesaler · East, TX · Member since 2012 · 88 posts · 61 votes
12y
I have never been in any situation like this but here's my $0.02: I would communicate with the incarcerated individual's attorney to make sure he is on the same page with the fiance. Maybe even get him to sign a form saying that he's OK with this sale. I would also have your own attorney review the docs to make sure you are crossing your t's and dotting your i's. Hell, maybe even hire an attorney to represent him in this situation so that the attorney can get access to him. It sounds like this deal is going to be fun to work.