All Forum Posts by: Account Closed

After Buying an Auction Property in Hudson county I got sued by the old owner . A colleague who auctioned a Property from sheriff Sale redirected to me with a profit . I am totally new and my first investment property . It was sold by a Big Bank (Plaintiff ) who noted in paper no prior lean or mortgage. After I brought , Did a Sale deed , Updated to tax department and Hired a Property manager . The Property manager visited the property and informed me The old owner still live in the house . Ps Note : The Previous owner is living in this Multifamily House foreclosed in 2009 never paid a single and collecting rent from other two family . I took an emotional step asking the Property manager to let the old owner stay cheap and he must hv a lot of memories connected there . But For my Surprise got a call from an Attorney saying the old owner suing me for me asking her rent and not having the property title . What Surprised me Somebody can live free for 8+ year and collect rent and not paying tax can still Sue the person who brought the house full cash . The Lawyer who also know this is a False case can still put a Case . I received a loose paper at my door step without any cover latter says its a summon The Question here is if these people can stay free where this money coming from , pur tax money ? What Law prevent people to stay that long in a house enjoying the perks Pls Note -?Tax was paid by the bank who foreclosed. I do have a Ejection Case but i believe this will be a tough investment for me . Any Advice suggestion pls

A Colleague who does realestate business in NJ had a auctioned property and looking to sale somebody with his profit as he was not able to pay all cash . I Brought the property from Sherrif sale which he redirected to me . Being new to the process, Didnt realize many things like getting a title insurance . It was sold by the Bank and a MultiFamily House . I did the Sale Deed , Tax also got updated . Hired a Property manager . It was Auctioned property so we never visited the House before . The Property manager informed the previous owner staying and still collecting rent from two other families . Pls Note- The Old owner foreclosed this 2009 and never paid a single after that and collecting rent . Tax paid by the bank . I was emotional and asked the property manager to let the old owner stay in Nov 2017 . For my Surprise There is a lawyer called mentioning the Old Owner suing me as I she thinks I owned the property illigally and put a case that she should own the Title . What Surprise me most , Somebody didnt pay a single from 2009 and collecting rent and still can dare to Sue where people like us loose sleep if we owe $500 on Credit Card . How this is possible . What law prevents it and Who pays for her ?? I did put a ejection in Hudson county but i have a feeling this is going to go for quote sometime .