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Trustee's sale: What happens to personal property? My first deal.
I just made my first REI deal today! I bought a house at trustee's sale (courthouse steps). The owner passed away early 2016. I'm guessing there is still considerable personal property in the home. What does the law say about this situation? Do I now own the personal property or do I need to attempt to return it to family?
Thanks
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Congrats on your first deal! Hood it goes profitably.
You would post the same notice to quit as any other owner-occupied post-foreclosure sale situation, with the exception that you cannot serve your deceased tenant.
The possessions belong to the Decedent's estate. I've had to deal with this issue quite a few times. Here's how I do it:
1) Enter property with a witness to document and inventory remaining contents. Take photos of each room and notes.
2) Identify items of value and be prepared to relocate them to off-site storage ASAP
3) Identify personal effects (keepsakes, photographs, etc.) and protect them for family member who can positively identify themselves as such and give them these items after signing a simple release and receipt for your records.
Just remember the deceased owner was related to someone, somewhere and treat their personal effects with dignity. As fir due diligence, I don't think you need to go looking for family but have a way to show them that you cared and lessen your chance of a dispute.