You'll still be listed on the chain of title as you'll take possession in your name and then quit claim the property to your LLC.

The lawyer said I would have been stuck but the auction site intervened and I got 100% back without taking official possession!

This is pre-foreclosure, they are just doing it to cover themselves legally on any possessions left inside.

If the property has been boarded and abandoned for 3+ years, the bank that was holding the foreclosure has been busted and jailed, is it possible for the county to claim in condemned/abandoned and take possession?

That gives you possession of the property, which is the right to live in it.

Then, you'll have an eviction to fight out before getting possession.

Basically, you are creating a business entity that is going to take possession of the real estate, and you are going to be the owner of the business, NOT the real estate!

If the creditor takes possession of the C corp stock, which gives them majority share of the company, can they then liquidate the company?

I have the seller sign a Letter of intent to Lease and To OptionThe letter of Intent covers...Address, Rental Term, Renal Payment per month, Security Deposit, Possession Date, Option Sales Price (could new appraisal), Option Money (usually 3% or $5K min), Representations, Warranties, Covenants, and Indemnification, Legal Effect, Notice of Intent to Assign, Option Period (45 - 60 days)I have them sign the letter of intent (LOI), it goes to my attorney, and the attorney prepares the paperwork.There is an option release disclosure document that discusses that the buyer will be responsible for the following fee’s to be paid out of escrow at closing, which are for the release of the recorded notice of option, the assignment of negotiated purchase price, and the negotiated rent.2.

Most tenants do not show up so judgment is given to landlord if papers executed properly along with possession of the property.