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Updated over 6 years ago,
Dead people on my title - Help!
Hi BP community,
Disclaimer: This is my first deal where I've sourced the properties and ordered the title.
I'm seeking advice in clearing up a title for an off market deal that I have under contract. I'm buying the properties for myself, to add to my portfolio. The seller is old, tired, has ****** tenants, therefore is giving me a good deal! He wants cash in his pocket and minimal headaches. He's not very energetic or tech savvy. Below are my questions; and the email back from my title company.
Thanks in advance!
Question 1.
- Should the title company be sorting this? or is the Seller responsible?
Question 2. (if the seller is responsible)
- Assuming I have to help the seller to help the title company. What can I do! From my understanding, only specific people can attain death certs.
Hi,
Yes, I got what I needed on Matt's end. Dave ordered LOI's and we are waiting for them to come in. There are still some items on the seller's end though that he was unable to assist us with.
On 1XXX, I still need from the seller:
- Need to know when PERSON A died (seller says he knows PERSON A is dead but not sure when) We need to make sure it wasn't within 1 yr from Seller's acquisitions from PERSON A or transfer inheritance tax would be due)
On 1XXX, I still need from the seller:
- Proof of death for PERSON B (PERSON B, PERSON C, & PERSON D acquired this property together. Then only PERSON C & PERSON D transferred it to our seller. So our assumption is that PERSON B is dead but Seller says he wasn't related to PERSON B & has no knowledge. It is important that we figure it out or PERSON B has outstanding interest if he's not dead.)
- Need to know when PERSON C, & PERSON D died (seller says they are both dead but couldn't remember when)
- Inheritance taxes for PERSON B (can be escrowed at closing)
Regards,