Homeowner Killed... What Next?
I am working on a forclosure. It is a vacant house. According to the neighbors the owner of the house was killed. The house is vacant. The title and the forclosure case only list him as the only person (i.e. no wife, etc.). I want to track down who has legal rights to the house to see if they will let me do a shortsale but I am not sure where to start. Any advice?
after doing your homework, you might consider purchasing the mortgage, then completing the foreclosure
There are 4 liens against the property so it woud be too complicated to try to purchase them all.
Someone must have legal rights against the property. Someone must inherit the propertly or if there are no heirs then there must be a lawyer or court involved to disolve the assets. Mabye this is more a question for the "probate" real estate experts. I have only focused on Short Sales so I am not really sure how to research who has legal rights when the homeowner passes away.
When you say 4 liens are all 4 mortgages/trust deeds? No need to buy them all you just need one. Just make sure its the right one.
You can see in the county records if a probate case has been started. The probate case would list the personal representative. Other than that, you can do a skip trace on the person and it should list his relatives and you can start calling trying to track someone down who will start the probate case.
No John, you would not need a lawyer to tell you that information. you could just ask the county officials to tell who handles that. If you are plesant, and ask the right questions, it is not difficult, as they are usually glad to help.
They can also tell you where in the State codes or statutes the laws that govern that are located.
Thank You.
SpyBoy
Sounds like a real mess. Pick up the property at the auction.