I guess when @Justin Turner described the transaction, I had envisioned a straight purchase of the property, except that the deed the purchaser receives is merely subject to the first lien interest.

Transactional lenders merely lend you the money to close your side, then get their money back once the end buyer buys from you.

You may have cause to sue Donald Trump or Warren Buffett knowing they are worth billions, but you'll never get anything because of the dynasty and land trusts and other legal vehicles used to protect those vehicles, of which they are merely the sometimes-beneficiary.

One of the distinctions between being a truly abandoned or orphan property vs. mere vacant is that the former does not show any signs that anyone cares.

I was merely giving the opinion of a professional who changes several thousands of air filters a year, works on hundreds of units a year and has a thorough understanding of the mechanics of hvac systems.

I mixed up federal and my local, worked out though, since it made me re-read the rules.

Ping by Wayne.Eric, just to make sure we are talking about the same thing, let me re-state the situation and extrapolate.

But I think we need to go far beyond mere "compliance out of fear."  

If much lower value, you might be able to avoid probate altogether and merely filing an affidavit of small estate.

The difference between the two deeds is merely the language of the deed and of course the liability that language creates for you as a seller.