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Updated about 7 years ago,
Brother's in jail, squatter won't leave, house is a wreck
Hi BP community. Any suggestions, or guidance on this one would be most appreciated! Here's the deal:
Two brothers inherited their mother's home when she passed away. One brother is in jail for 15-life, the other is recovering from heroin addiction. They are both on the deed as joint tenants. The brother who is not in jail is living in a fifth wheel on the property. The brother who is in jail signed a lease agreement with his ex and she is now squatting in the property. The house is a wreck, but also totally salvageable. I have a buy/sell agreement with the brother who is not in jail with a purchase price of 65k. ARV is 170k and rehab costs are ~40k. Here is what I need to figure out.
1. How do I get the brother who is in jail to sign the buy/sell agreement, and what else do I need to consider with regards to his situation.
2. What do I do about the squatter? She was served an eviction notice, and then subsequently thrown in jail for assault. But she was released today. The brother who lives on the property was boarding it up yesterday in an attempt to keep her out, but chances are good that won't work and she'll get back in.
3. What am I not considering?
Thanks in advance!