The bank mentioned they can't finance investment across the border. 

Their claim is that in order to pull the records, we have to provide the name of the deceased and preferably a date of death.

Hello BP I have a House under contract for sale until i found out it had a mortgage and the actual owners are deceased.

For Chicagoland I really favor going to across the border into NWI, especially if you are looking at SFR.  

Therefore, the deed is in the name of the person who has been deceased for 20 years.

If I submit the payment to the State Treasury, what occurs next considering the owner is deceased?

There often are residences that are next to commercial areas and which fall under commercial zoning but aren't used that way.If your zoning map is online check out other residences bordering this street.

Anybody north of the border with some experience in this asset class?

The reason I said what I said is because I bought a tax lien on a property a few months ago where the owners were deceased and the property had not yet been probated.

@Dan WeberI am actually very familiar with the border of New Hampshire and Maine.