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Updated over 6 years ago,

User Stats

20
Posts
8
Votes
Michael McConlogue
  • Rental Property Investor
  • New York state
8
Votes |
20
Posts

Help with a property dilemma

Michael McConlogue
  • Rental Property Investor
  • New York state
Posted

There is a property I am interested but there are some issues......

Owner wants to sell but there are problems with the family currently living there.

There are three properties adjacent to each other. One is 1.4 acres with a trailer there is road frontage, but it has a shared driveway and well. The second piece is 2.3 acres with a another trailer and a barn. The remaining is just 80 acres of land. 

The occupants on the 2.3 acres are the owners' parents. They sold the property to the current owner for $1 in 2012. There is no life lease mentioned in the deed, but there is wording in the deed that says 'in lieu of contract.' The property was transferred because the parents didn't want to pay the taxes, and wanted less assets to qualify for Medicaid.  There were problems when the owners siblings moved in with the parents. There was a rental agreement but the parents never paid rent.

The owner hired a lawyer and tried to evict the parents. In turn the parents obtained Legal Aid and filed a lawsuit, saying the property was obtained by fraud. The owners had a sale lined up but it was stopped by an injunction from legal aid blocking the sale until the lawsuit is settled. 

The owners are paying taxes on these properties, and have lost income because they can't sell and aren't receiving rent. 

The owner doesn't want to spend any money on lawyers, because the last eviction was dropped by a lay judge who didn't want to make a decision its a small town. 

Any advice to get the parents out so the property can be sold? 

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