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Updated about 6 years ago,

User Stats

706
Posts
171
Votes
Joshua D.
Pro Member
  • Rental Property Investor
  • Pittsburgh, PA
171
Votes |
706
Posts

Might be buying into a family land partnership investment.

Joshua D.
Pro Member
  • Rental Property Investor
  • Pittsburgh, PA
Posted

So a past seller of a home came to me with another great deal. But its a little complicated i guess you would say. My attorney said makes him nervous. So the seller came to me with a deal he was inherited by his father which is a nice piece of land and its leased out by a big grocery store chain and pays so much a month and is worth a good bit. But the deal is with all his family members his 2 uncles and a aunt. He wants to sell to me without them knowing and they have been wanting to buy but doesnt want to sell to them just me. We did the title work and suprisingly he can sell without there consent with his 4th portion of the property. So far so good we are scheduled to close friday. But my attorney said going to double check some stuff out tomorrow make sure title is still good with title company.  But my attorney said hes nervous and very odd this entire situation. Him wanting to sell without them knowing and me basically coming into the party as a joint owner. Thoughts? The deal is amazing also. My attorney just said worries they will maybe have something in writing stating he cant sell without there consent. But in his dads will it was said everything is left to his son. Whats every ones thoughts?

  • Joshua D.
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