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Updated about 7 years ago on . Most recent reply

User Stats

51
Posts
12
Votes
Rich Solano
  • Investor
  • Freehold, NJ
12
Votes |
51
Posts

Deceased Owner - Taxes owed on a property

Rich Solano
  • Investor
  • Freehold, NJ
Posted

Hey Bigger Pockets, 


Quick question for you here that I would love to get some feedback on with regards to a property I recently came across...

1. There is an owner listed as well as two co-owners for a property. The "main" owner is currently deceased... The siblings are the surviving parties. Is this something that the co-owners will need to handle to be able to sell the property? What steps would need to be taken (other than telling them to speak to an attorney) - which they do not have the money for, based on my conversation with them.

2. There are taxes owed over the past two years that are yet to be paid. If I did want to purchase this home, I can obviously take the amount off of the price. However, will that need to be done prior to closing? Again, they do not have the money to pay the taxes (or else they would have been paid). If I decide to move forward, how can I secure the home ?

Thank you again for your help. Looking forward to hearing about (creative) ways and potential ways to work around this assuming I decide to move forward. 

  • Rich Solano
  • Most Popular Reply

    User Stats

    161
    Posts
    29
    Votes
    Jeanine P.
    • Investor
    • Sacramento, CA
    29
    Votes |
    161
    Posts
    Jeanine P.
    • Investor
    • Sacramento, CA
    Replied

    @Rich Solano How is the deed taken title to ? It may need to be probated depending on the deed. Are you looing to wholesale the deal, If so taxes can be taken out of the sale in escrow. Pm me

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