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Most likely, the previous owner had no will recorded, and therefore all of the assets were awarded to kids/brothers and sisters per state law.

The court date was yesterday, and nobody showed up, so the judge awarded possession!

:) BTW congrats on the "popular poster" award.

The language appears to be standard, 12 months occupancy unless Lender otherwise agrees.At the time my wife, a pilot, had recently been awarded a transfer to a domicile about 100 miles away, which was closer than her previous 180 miles, which she drives each way about 8 times a month.

@Joshua DorkinI recently got the "Popular Poster" award, which is for starting a topic with more than 1500 views.

Please remember LLC would not prevent lawsuits but only limits the amount of damage from a lawsuit to any property(s) covered in the LLC and not affect your other investments and home.In some cases, an LLC may deter greedy lawyers/plaintiffs in going though with a lawsuit if not much equity is in the home and only a limited award can be had suing the LLC.However, for beginning real estate investors with less than 5-10 properties with very little equity, good insurance (both property insurance) and personal insurance (umbrella) is a better way to go.Why?  

. - at a minimum, most underwriters will require a 4-point inspection (plumbing, electrical, roof, & HVAC) before issuing an insurance policy.In some cases, you may be able to get a "liability only" policy that would provide some protection and a duty to defend in the event of an injury or other incident on the property, but you run the risk of an award exceeding your insurance limits and dipping into (or at least tying up) your personal assets, making the LLC or other legal entity even more critical.In my opinion, if you are serious about moving forward as a rehabber or landlord, the expense to form an LLC or corporation is minimal and should be one of your first moves.Previously posted elsewhere:"An LLC is more for asset protection than tax advantages (though it may provide some tax benefits if you opt to tax it as a corporation...talk to your accountant).Example: Contractor falls off the roof and breaks his leg at your property.

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I use a score sheet where applicants are awarded up to three points for ten different categories.