OfflineI live in a house that is paid for but my father in law as yet to take the house out of his dead mother's name and put it into either his or our names and we want the house in our name asap so i can fix my house and use the extra to invest in some other properties.
There is still money owed on taxes because he doesn't pay it all the time and they aren't really that much but my family could use the money really bad. How can I get this house in our names without spending alot of money and we will own it and maybe be able to give his dad some money to fix his own house.
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If you have inherited property with no mortgage, you could take the death certificate to the courthouse and have it changed. Did the mother leave a will giving the property to her son? Was there another name on the will?
I take it the property taxes that are coming in are under the mothers name as well. Property taxes are extremely important to pay on time. Those are government funds. If they get behind for a year or two, they can auction the property off. Make sure and keep them current.
If you want to purchase the property, you can get financing and buy it from the person that ends up with the property in their name.
Hope this helps.
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Yea.. .this is a probate issue that really should have been handled at the time of death.
If the property is free and clear, it won't go to probate. And until your father provides the death certificate to the lender, the taxes will continue to be billed under her name since the lender only knows what is provided to him in documentation. I would suggest the father provide the death certificate so it is in his name (unless he doesn't want the delinquent taxes in his name). Then he could Quit Claim it to you. Hope this helps.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Thanks for the infomation on quick claim. This is just what I needed to read so I dont let a deal pass me by.Thanks.
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