Help On Property W/back Taxes

Comments(4)

• 
  kfspropertymanagement25th August, 2004

  Have you asked when there will be a tax sale on the property?
  I would not pay the taxes there maybe liens and what not on it. you might wind up tying up your capital for no good reason.

• 
  RonaldStarr25th August, 2004

  nynewbie--(NY)------------------
  
  It seems to me that you need to dig a little deeper to attempt to locate the owner or heirs of the owner.
  
  When you say " I have been unable to locate the owner after searching logical places." I wonder what logical places you mean.
  
  Could you detail please what you have attempted to do to get more information about the owner? Which organizations, agencies, persons etc have you contacted and what have you asked them?
  
  Once I know what you have done, I will tell you what I would do. There are probably about three or four dozen different things one can do to try to track down property owners. The results from some of these actions can steer you toward or away from some of the others.
  
  If you can, do check on other liens or encumberances on the property. If there is a mortgage, lien, or judgment, you might be able to buy that for a discount from the holder, and then do a foreclosure action. At the foreclosure sale, you would bid for the property for yourself.
  
  Also, getting properties through back taxes might be a possibility, depending upon the tax situation.
  
  Good Investing*************Ron Starr***********
  
  
  
  [ Edited by RonaldStarr on Date 08/25/2004 ]

• 
  nynewbie25th August, 2004

  Thanks for the info. I spoke to the company that sold him the property, the tax collector, looked for him by the town listed and his name both on and off the net. I went ahead and asked my lawyer to check on it and he'll be getting back to me next week. Keeping fingers crossed
  
  NYnewbie

• 
  JohnMichael27th August, 2004

  You may be able to acquire the property by way of what is called adverse possession.
  
  This is a vary daunting process, but a method never the less.
  
  Traditional common law provided a method for someone to obtain title to land through use. The common law rules for adverse possession have been codified under both federal and state statutes. A typical statute allows a person to get title to land from the actual owner simply by using the land, out in the open for all to see. For example, your neighbor built a fence on your land with the intention of taking the property, paid property taxes, and you knew about it but did nothing. If this continued for a period of time set by state law, your neighbor may be able to claim this property as his/her own. The theory is that, by not disputing your neighbor’s use of your property through a lawsuit, you, as the actual owner have abandoned your rights to the property. There are several elements needed for adverse possession to result in title:
  
  The length of time required for adverse possession in title varies - it could be as short as a few years or could run for twenty years or more. Typically public entities must establish a longer period of possession than individuals. Some states have adopted a rule which requires the adverse possessor to pay taxes each year on the land.
  
  The possession must be open for all to see.
  
  The possession must be exclusive to him or her (e.g., the fence in the above example, a driveway, road, etc.)
  
  The possession must be hostile to the actual owner of the land.
  
  To gain title to land through adverse possession requires strict compliance with the law, but can have dramatic impact upon land ownership rights.
  
  An encroachment could result in title to your property being transferred to an adverse possessor. Under these circumstances, you might have to bring a lawsuit for trespass in order to prevent your neighbor from getting title to your land through adverse possession.
  
  In New York, the duration of such possession is ten (10) years. New York Real Prop. A&P.L. §501-551.