LandInvestors.com Forums $10K a Month for Life; Cash Flow From Land Chapter 8 – Cash Flow From Land Deed is in Deceased Grandfather's Name, Grandmother Still Alive, Looking to Sell

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    Chris C
    Participant
    Post count: 50

    Hello, Land Academy family!

    I have a question regarding a deceased person’s name on the deed.

    I was contacted by a woman trying to sell some lots for her grandmother.
    The deeds are in her grandfather’s name, and the grandfather is deceased. The grandmother is still alive, and looking to get rid of these lots.

    Does anyone know what specific actions or paperwork would be needed for this type of situation?
    The situation being that the deed is in the grandfather’s name, but he is deceased, and the grandmother is still alive and looking to sell.

    And that being said, would it be worth the effort? Or should I pass on this deal?
    The granddaughter says the land is appraised at $1,800 per lot, and they are willing to take $1,000 per.

    Thanks!

Viewing 15 replies - 1 through 15 (of 20 total)
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  • Chris
    Participant
    Post count: 252
    Pro

    I believe they have to go through probate. It seems like most people pass on these deals. Also, if they claim the lots are appraised at $1800, you should probably be buying them for a few hundred each. We’re going for buying at 10-20% of market value.

    Chris
    Participant
    Post count: 252
    Pro

    I believe they have to go through probate. It seems like most people pass on these deals. Also, if they claim the lots are appraised at $1800, you should probably be buying them for a few hundred each.

    Jason Polley
    Participant
    Post count: 38
    Pro

    Hi,

    One of my deals was had this circumstance. You’ll need the original death certificate and the signature of the grandmother to close the deal. Not sure what county you’re dealing with but it might be worth a call to them to see if they will give you any information. Be aware they might not want to and will point you to an attorney or title company.

    Thanks,
    Jason

    Chris C
    Participant
    Post count: 50

    Thank you Chris and Jason!

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    I have gotten a couple letters pointing out what else I need to do to get my deeds recorded. Very detailed letters too. You might try sending something up and see what they send back if they won’t help you over the phone.

    Or ask a more helpful county and try their suggestions on your county.

    There are over 3000 of them to call. The more time than money route.

    Chris C
    Participant
    Post count: 50

    Researched the comps online. Lowest one selling for $1,150 an acre on Landwatch and LandAndFarm.

    Talked to granddaughter, and they are willing to sell for $300 per lot.

    I will call the county about the paperwork. Does anyone have any idea who exactly I would talk to in the county about the necessary paperwork?

    Chris
    Participant
    Post count: 252
    Pro

    WOW! Nice deal! Is that from your craigslist ad? Sounds like you’re buying it for the right price.

    I’m really curious to see how you handle this with the deed because it seems to be a common scenario with sellers.

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    @jill
    Anybody ever try putting the sellers name in the grantors place and then having the surviving spouse sign as “as surviving spouse” then recording a death certificate along with it? I think many death certificates show the spouse on them.

    Some states allow this for cars and boats and other assets. I have seen people get away with that in stock deals.

    Just got this scenerio. Lady was married 30 years. Husband bought the land before they got married and never changed the name. He has been gone for four years and she wants to just get rid of the land. Taxes are all paid up.

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    The other method I can think of is an affidavit of death. Basically the wife of the deceased swears under penalty of perjury that the guy is dead and references a death certificate. Then goes on to say such and such assets are now hers, detailing the land we want to buy in this case.

    I’m thinking of buying this Affidavit of Death(says it works for spouses, kids and people really close to the deceased, multi state too)

    One time fee of $25 and I can keep using it. Got an old deal I could use that on too.

    More recording fees as it would be the title(1), acknowledgement(2), affidavit(1) and the the death certificate(1).

    More notarization fees I would expect as the notary should notarize the affidavit too.

    I’m going to keep researching and maybe you guys will set me straight in the meantime.

    Think it is at least worth a try, this seems to be a common problem we could make money fixing.

    There is a line in the description that has me scratching my head “The person executing the affidavit should normally not be an heir of the deceased, or other person interested in the estate.”

    I think that can be me even though I am interested in the land I am not interested the estate. Not named in the estate getting anything is my understanding.

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    CA Court
    Found this website for the california court system about using small estate affidavit.

    It says you cannot use that kind of affidavit process for Land.

    I’m not so sure it is that cut and dry. The US legal system leaves a lot of grey area to work in.

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    Scratch that last form.

    This one looks more like it for California:
    Buy land from dead people form

    This is a lot more complicated. This process requires an inventory and appraisal to be signed off by a special dude from the court. They want to be sure the assets are worth less than 50K.

    Would have to fill out:
    Form1
    Form 2
    Form3

    Hire one of these guys

    Maybe your state and county are easier? This sounds like a mess. I’m still going to email the referees for a quote so I know.

    Chris
    Participant
    Post count: 252
    Pro

    @luketsmith

    Nice fine. Yes, it would be nice to figure out a solution to this. It seems pretty common.

    Chris C
    Participant
    Post count: 50

    Just received an email from the granddaughter.
    She said the grandmother has all power of attorney papers, she’s been thru the probate courts, and is legal to sign any necessary paperwork.

    Going to call the county now and see what they say.

    Chris C
    Participant
    Post count: 50

    Talked to probate judge in the county. If her probate is still open, she can use a personal representative deed to sign off.

    If not, we will have to complete some other tasks.

    Will keep you updated.
    Thanks again for all your help!
    This community is amazing!

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    I heard back from one of the three court referee guys in my county on the affidavit process for “little” estates in CA. (sub 50K land or 150K total assets out of jt, trust ect other names)

    He says yes you can do that! It cost .01% of the value of the property or the min of $75. Plus $30-50 for him to go get pictures and draw up or collect maps of the property. Hopefully his pics will help me sell the land too!

    He said his secretary has the ppwk and can sent it over. I called her and asked for the paperwork on her vmail. Will see if it shows up and looks like the links above.

    Not sure of the time line but the price sounds good to me. The process still involves a court approval. I don’t know how or when yet. The secretary is out for the week who has all the details.

    On a side note I got an additional five different dead people properties from two different sellers today. Another one called too but ended up figuring my offer was too low.

    However you slice it there is a lot of land out there owned by dead people so it would be good to know how to settle it.

Viewing 15 replies - 1 through 15 (of 20 total)

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