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Updated over 5 years ago,
Real Estate Lawyers- Cloudy Title Risk
Hello all,
I am working on buying an investment property where .89% of the interest belongs to a heir that I cannot come into communication with. None of the other family members know where they are or how to communicate with them. I've done all the due-dillegence to try to communicate with them but no luck.
All other parties are in agreement but there is that small interest pending. Has anyone had an experience with this type of risk? I'm wondering if there is a way to exclude or eliminate that parties interest? Any lawyers or investors familiar with such dealings?
The Title company I'm working with said they cannot close the deal if the title interest doesn't add up to 100% due to potential lawsuit risks?
Thanks!