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Updated over 5 years ago,
Buying at an auction / probate /inheritance issues
Hello fellow investors,
I was researching a certain property being sold at a sheriff’s auction and came across the following scenario. The property is a duplex. The mortgage and title is in one gentleman’s name.
The chain of title did not show any obvious gaps or anything obviously problematic.
However, further research showed that the man is now deceased.
I am not sure, in a scenario like this, would not the property be inherited by his heirs through probate or a will. Would you attempt to bid on such property at an auction or would you find this scenario problematic knowing that there might be claims to this property from the heirs?
Thank you.