The increased risk is generated by the fact that the owners are relying on the validity of the tenancy in common Agreement for their usage rights, and it is possible to imagine legal circumstances under which this validity might be undermined.- If the subdivider or someone with relationship to subdivider sells, a public report must be done.

Wrong message.Yet, everyone is convinced that a certain circumstance —foreclosures, tax liens, probate cases— implies “motivation”.Circumstance doesn’t imply motivation!

If they’re late a third time, you have a strong case for eviction for habitual non-payment—without risking the tenant showing up at the 11th hour with the money.For your specific circumstances, with only a partial month behind, I would guess there is a decent chance they can come even on rent and it would be a waste of your time.

(yes, each option has volumes of disclaimers, circumstances and variables...at a high level, conceptually and then we can go deeper as needed.) 

Most current foreclosure starts today, do not end up going to saleWhile not an exact correlation, housing foreclosures vs foreclosures starts, the few foreclosures that complete under the present circumstances, makes it very slim pickings in the foreclosure space. 

What were the circumstances surrounding these claims?

Given the circumstances, I’m unsure whether to proceed or back out of the contract.

I don't mean to be negative and obviously, you are going to do what you want to do, but to put it in perspective, I bought one of my 1st properties in 1990 (at a peak), and sold at a significant loss in 1997, due to specific circumstances.

One of the biggest issues is probably borrower default—whether due to mismanagement, market downturns, or unforeseen circumstances, lenders can end up in long, costly recovery processes.

These type living arrangements are primarily short term until user circumstances change