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Updated almost 4 years ago on . Most recent reply

User Stats

62
Posts
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Tracy R.
  • Investor
  • Marietta, GA
23
Votes |
62
Posts

looking for probate advice - state of VA

Tracy R.
  • Investor
  • Marietta, GA
Posted

Any attorneys on here who specialize in probate in Virginia?  

I am trying to figure out how to buy a SFH property in a small town in SW Virginia, but the probate issues seem to be a tangled mess.

The property is unique for the area in its design, having been built by a somewhat "known" artist in the 60s, but now it's falling into disrepair.  I'd like to try to buy it and restore it, first as a rental, and eventually as my second home.

The mother died several years ago without a will, and had 3 children.  I've been in close touch with the daughter, the other 2 sons are sort of MIA.   The daughter never took the property through the probate process, and evidently still can't get it together to do it.  She is not against me becoming the owner, but she just doesn't have the wherewithal to do what she needs to to try to sell it.  There is under $10,000 owned in back taxes, as far as I know.  There are several other complicated elements as well.

There is an outside firm who handles the tax auctions in the area, but evidently, they've not gotten to the point of having this property come up for auction yet.  (I am on their email list, so I keep a watch out for it).

A local lawyer has advised that I should just wait until it comes up for tax auction, based on the all the other complications.  But it's already been so many years that it's just continuing to go downhill.

Does anyone have any advice here?  I can give more details if that would help!  Thank you...

  • Tracy R.
  • Most Popular Reply

    User Stats

    543
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    Davido Davido
    • Rental Property Investor
    • Olympia, WA
    310
    Votes |
    543
    Posts
    Davido Davido
    • Rental Property Investor
    • Olympia, WA
    Replied

    Hello Tracy,  I am not a lawyer.   This is what I'd do.  1. Find out if the deceased mother left a will.  If she had a will it likely controls who is entitled to the property.  2. If there is no will, then then offer the daughter a small amount for her to give you a Quit Claim deed to the property.     A quit claim deed is a very simple, one page document that gives you all the daughters interest, IF ANY, in the property.    At this point the daughter has no title interest in the property, but she does have a legally recognized  'equitable' interest.   Meaning, if the property were litigated and sold she could claim some right to the proceeds.  The Quit Claim deed would give you both the daughter's equitable interest and a colorable claim to title.   Colorable meaning you don't have a perfected legal claim, but you have some claim.  

    Then take over the property as though it were your own.    Pay up enough of the property taxes to keep it out of foreclosure, and rent the property at a reduced rate.  Advertise it as a fixer 'deal' at a reduced rent for someone with the skills to do required repairs.   Use only the rent paid by your renter to buy materials needed, so that your rent is paying for materials and your renting is providing the labor at no cost to you.    Restoring the property this way, and acquiring clear title, would be a long slow process.  

    However, in less than 15 years you could quiet title in your name via the Virginia laws of adverse possession.   (Tack add the years that the daughter had it, onto the years that you occupied it).  Quieting title is often simple, as after so many years none of the family is likely to show up.   Doing this would cost you only property taxes, and you can recover the property taxes you've paid as a reasonable and necessary expense of preserving the property,  if one of the sons should suddenly show up and make a claim to the property.   If you can afford to wait. This can be much cheaper than buying at a property tax auction.   

    Best wishes.   Davido     I've done this multiple times.  https://www.biggerpockets.com/...   

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