11 year old Inheritance

[Adrian Smude]

First of all I was not planning to focus on probate/inheritance at this point, but I've been getting calls from seller.  I have a seller that says her mother died 11 years ago, the property is in the seller's name, she has the quick claim deed, but she never paid a lawyer to do the probate process.  There is still a mortgage in the mother's name which is current.  In the perfect world I will take over her mortgage and give her a little money to move.  In any case my real question here is about the easiest steps for her to take care of the probate process.  I've heard many investors say to pay a lawyer because it's too complicated.  This is in Bartow, FL (Polk County).  I have a lawyer that was refereed to me that is investor friendly that does probates, but I always start with BP.

[David Dachtera]

First off, it's "Quit Claim" deed, not "quick". A warranty deed would have been better, but you have what you have. The Quit Claim deed only says, "IF I have ANY rights to this property I quit those and grant them to you". A warranty deed says, "I have rights to this property and I grant all of them to you".

If the seller has the (Quit Claim) deed, then she has the right to sell so long as the grantor had rights to be conveyed. The financing does not effect that (in a mortgage state, may differ in a trust deed state - check with your RE attorney). No probate needed.

[Adrian Smude]

@David Dachtera Thank you for correcting me and the information! 

[Rick H.]

The real question is whether a title company will accept an 11year old, unrecorded QCD to satisfy their requirements for passing marketable (incurable) title.

Intention to transfer is key; usually defined by both delivery AND acceptance. Recording a deed is constructive notice but title companies, being in the risk business, want to eliminate all foreseeable threats from other potential heirs, claimants and creditors.

As a wholesaler, you ought to know more about title and what is required since the key to wholesaling is both identifying opportunities to solve problems and adding value by actually solving them. Time to study.

Ask your title company rep if they offer training. If not, check out your local RE Board.