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Updated over 5 years ago on . Most recent reply
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Beginner - Question on INTESTATE property
Hello everyone! I am new here: I live in Queens, NY and a friend asked me to find out about a property next to him because he wants to buy it and put a house there for his daughter.
So story is: John was the owner of that property and had died intestate, he was never married so his daughters (8 of them) are the heirs. Long story semi-short: the other daughters granted, lets call her "Paris" which is a daughter of his, they granted her full permission to own the house but she was never officially put on the deed it was a verbal agreement saying "yea Paris you can take control of the property" So eventually after sitting for so long the house was deteriorated and was agreed to be demolished by Gary (who is Paris's nephew) for 28k around 2008. Paris never payed Gary, which is irrelevant to the story but Gary is the one who told me the whole story so thought I should add it in.
From my understanding there's only 3 daughters left, but remember no one is interested in the property but "Paris" so Paris doesn't want to let the land go because of the emotional attachment she has to it. Currently the land looks like a forest (vegetation everywhere) and Paris is paying the taxes and water on the land (although water meter was taken out when Gary demolished it).
The property actually did go for auction because it had a tax lien on it a few years ago to a successful bidder of 300k but from what Gary said The people who won the bid didn't receive the title insurance (not sure if that even makes sense because i don't know what that means...) so the deal fell through.
Please note: The property currently has no liens on it b/c Paris is paying the taxes but it is still OWNED by the deceased father John.
My question here is: 1) Is it worth pursuing this property being that "Paris" seems to be senile (she's 90 years old) and doesn't want to give up the property? The other sisters have no interest in the property at all.
2) Is there any other options I have for acquiring this property?
Thank you,
Sonia Rodriguez
Most Popular Reply
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@Sonia Rodriguez, I stopped reading at the point where he has 8 daughters with no will.
I wouldn't take this property on. It's difficult enough to get 2 heirs to agree to something, trying to get 8 people on board would be too much for me to tackle.
I don't want to be a downer, but I'd go back to the friend and tell him this. This will be a TON of work, just to untangle the ownership.