All Forum Posts by: Carter Bushman

Hey all, my father and I are looking into buying some rental property together in Columbia South Carolina. The question I have is if there is anything special I need to look out for as my father does own his own business.
By this I mean is there anything special we should do to protect the business from any real estate repercussions and vice versa? As well as any other advice you think I need to hear about this situation.

Thanks.

Having grown up in Columbia I agree with Jo Amick, A lot of students live in West Columbia and commute to campus because of the much cheaper housing options.

I would certainly come, I would be interested in student rentals as well syndication. Also I would love more learning in finding off market student rentals.

Quick question for y'all.

A friend of mine is renting a townhouse in Provo, UT. He just found out that the man hired by the property management ran off to Russia with all the rents collected that month as well as all the security deposits. True Story.

My question is, when this happens is the landlord still legally required to still refund the security deposits as my buddy moves out? They were refundable.

I would think they would be but I wanted to ask some brighter minds.

Thanks!

I wish I could come! I'm busy that day but I'll be there the next!

@William Hochstedler Here's the e-mail I received from a Burt Harvey

The undivided interest only applies to improved properties that are occupied. Unimproved land and abandoned properties are usually sold to the highest bidder for 100% interest. Yes a tax deed is the means of conveyance. It will grant ownership, but usually the new property owner will need to take additional legal steps, such as a quiet title action, before the property could be used or sold by the new owner. It is my understanding that title companies will not insure a property transaction for a tax sale property unless there has been some other sort of legal action taken, like a quiet title, to secure the property after the sale.

Also, yes, your assumption is correct in an undivided interest situation. The tax sale bid winner would share the ownership of the property with the original owner. The following link to Utah State Law governs how that relationship is handled.

https://le.utah.gov/xcode/Title59/Chapter2/59-2-S1351.7.html?v=C59-2-S1351.7_1800010118000101

Burt Harvey

@Connor Lee Wen, I’m there.

Thank you all very much.

@Arnie Abramson, what then is the right of redemption?

I guess what I’m hearing is I need to call the county office again. Thanks for the help guys.