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All Forum Posts by: Diane Johnson

Diane Johnson has started 3 posts and replied 15 times.

Post: Using Land Trusts To Avoid Due On Sale Clause & Other Benefits

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2

Michael, you are on the right track. Many investors don't know the legal advanced ways of investing. There are so many legal laws that many "experienced" investors couldn't fathom almost like a real estate agent who says that wholesaling is illegal. Same thing. Knowledge is powerful.

FYI: Circumvention is legal turning an assumable loan into an assumable loan. Keep going, you're right there!

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Kerry Baird:

Perhaps your local probate court can give you directions as to how to proceed (you don't say whether you have gotten information there). The house might go to auction for the taxes, or it may be be settled in the probate court.  Here are some thoughts:

Someone, someplace declared the owner deceased...the county coroner? Can you obtain the document from the coroner and record the affidavit?

Is the deceased the only one on title?  If the real estate is held as joint tenants with rights of survivorship the joint owners must agree before the property can be sold.

It doesn't necessarily follow that the son is an heir. Is he listed in the will? Is there even a will in existence, and if so who are/is the beneficiary/ies?  Have you talked with the personal representative of the estate?  

Another thought is that you might be able to get the house through the tax side of things, by buying the property tax lien (not just paying the back taxes, which would not give you an ownership interest).

I picked up only one property through probate and no heirs were found, so the probate court listed this house for sale via the MLS: we went to court with our offer. Sharon Vornholt is one expert on BP who may be able to direct you. You've done some good digging, but I am not seeing the entire picture...and probate is something that varies from place to place, so you need someone well-versed in your local statutes.

I found the decendants obituary from 2012. Researched and contacted who survived him.

The decendant is the only one on title.

There is no personal representative for the estate. The son doesn't want his name to be associated with the property in any way. He won't claim it and he doesn't want money.

The property has not been put up for tax sale yet, so, a lien hasn't been put on it yet. I'm attempting to circumvent that before it does which is why I thought of going on record paying the back taxes would be a first step.

In addition, the property is not in probate. It's basically an abandoned unclaimed property that has reached it's back tax limit and is subject to being taken by the city.

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Rick H.:

Every one of these opportunities start the same way: someone finds a house or other property that's vacant. 

I use a format that helps keep my research organized: PETIO.

PROPERTY

EQUITY

TITLE

INTERESTS

OPPORTUNITY

Since you've done your research and (presumably) determined that there's sufficient equity net of repair costs and liens.

Your current challenge is that you do not have standing to pass marketable title. If you were to go the probate route, you need capacity, powers and authority (the 'CPA's') to do so. That opens up a whole can of worms.

There's no such thing as "no heirs". It's always a matter of how many degrees the relatives are and the threat they pose to pursue their interest(s). 

As to opportunity, that has to do with all the various Plays that you might approach this both strategically and tactically.

If it were me, I'd approach the decedent's Son and get both assignment of beneficial interest in decedent's estate and QuitClam Deed and go forward from there.

See how breaking up a long post is easier to read and understand?

 Can you get a Quitclaim Deed if the son states that he wants nothing to do with it the property, he doesn't want money? He said, "Let the city take it!" He doesn't want his name associated with the property in any way.

And yes, breaking the post up is much more understandable. It's a bit more difficult if your typing via iPhone in the middle of the night. I apologize.

Thank you for your response.

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Mike Sedlacek:

Go to 

http://www.tax-lien-certificates.com/tax_lien_cert...

Tells you everything you need to know about purchasing tax lien certificates in your area. You could get the property this way. for the back taxes with a quit claim deed and all other liens will be wiped out I believe.

The house has never been up for auction and its not now. I'm trying to get it before any of that takes place.

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Mark Elliott:

hi diane. seems like the son has some bad memories with that property. i can understand why he doesn't want anything to do with the property, but does he want anything to do with money? offer him some cash for his share of the property. have him sign a quit claim deed and tell him the money is " poetic justice" for whatever his dad did to him. in the end, HE gets the money from the house and his dad didn't. poetic justice. most people will not run away from money

 I thought so too. He doesn't want it. He said he's nit even going to claim it. "Let the city take it!", he said. I'm trying to get it now before the city does decide to auction it. 

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Vince Mayer:

@Diane Johnson

They just had the tax sale here in Missouri. If the property has gone through 3 sales and hasn't been bought via tax auction, you can purchase it as a struck off or OTC property. 

Google "Quiet Title Missouri" for more info on what needs to be done and see this link for info on the procedure you have to go through.

 It hasn't gone through a tax sale yet. It's not up for auction either.

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Rich N.:

I am not a lawyer, but never mind the fact that the son doesn't want anything to do with it just yet.  First,  I would check to see if the dad even left the house to him and/or does the courts even recognize the "son".

The courts don't know that he's dead. No will filed. Checked our court system thru Case Net- just the liens, spoke with 40 year old son and his grandparents from mothers side, had title company to run full check- only liens, no mortgage, and back taxes. It's not in probate. Found his obituary and said he left behind his son first, two loved ones, a sister, and 2 dear friends- in that order.

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Ronald Perich:

I understand they have the deceased living there. His name is on the title. But if there are three years of back taxes on the property (only $8K in Tower Grove?) and nobody has bought them yet, I'd wonder why. If nobody has bought the back taxes, that would be my first step. After you buy the taxes, and after the redemption period has expired, you clear the liens and own the property. If the taxes get redeemed, you get interest.

Remember, I have never bought taxes in MO so you get what you paid for :)

:) thanks for your advice. And no, no one has bought the back taxes. The taxes are cheaper because the value of that stand aline property has been degraded. It has an ARV of 300+. Going down to the city Monday.

Post: Deceased, no heir.

Diane JohnsonPosted
  • Investor
  • Saint Louis, MO
  • Posts 15
  • Votes 2
Originally posted by @Marc Murphy:
Who is the executor of the estate. If it's the son then you need to get a contract with him . You can draw contracts up for that then have your lawyer do the rest .

Offer the son 10-20k. Or how beer much is reasonable. He will sign the papers and take ownership for a certain dollar amount

 The son us in the Army traveling and he told me, "I don't want to have anything to do with the house, let the city take it, I'm not claiming it." He won't take money or anything else.