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Updated about 9 years ago,
$450k equity home going to tax sale. Options??
Hey guys, quick question for ya..
A relative is letting a home with 450k in equity go to a tax sale this coming April. Taxes will be about $10k on it by that time.
He simply does not want to pay the taxes on it, and means to let it go to tax sale.
He won't sign the home over for any amount of money offered to him. He wouldn't let us pay the taxes on it if we offered.
He MEANS for it to go to tax sale, and to lose the home, and he will not cooperate.
Yes, I understand that it is ridiculous.
The home was given to him in a living trust by my grandmother.
My mother, sister, and aunt all live in the home.
Is there anything we could do to prevent that from happening? Any way to wrestle the property from him before that? If it does go to a tax sale, is it likely that it will sell for close to it's worth? Or could we maybe come in and pay close to the back taxes on it? Any legal action we, as next of kin and grandchildren, could possibly take?
I'm not sure what the appropriate questions to ask are as I don't know a lot about real estate.. but pretty much any way we could take control of the property and/or keep the home.
I understand that, given that the home is in his name and he doesn't want to cooperate with anything, we probably can't do anything, but I still have to ask.
Thanks in advance!