Tagged: 

  • Creator
    Topic
  • #645

    Kevin Rhatigan
    Participant
    Post count: 107

    @jilldewit
    @stevenbutala

    Hi guys,
    I got a response to a mailer from an attorney in Illinois who represents the executor of the estate of the owner of 5 very nice acres in CO (mountain road, trees, beautiful views, etc.).
    The trouble is that the attorney says we would need to open “ancillary probate estate” in Illinois to get the land into the name of the executor so that we could close w/o title issues. This is the only land owned by the deceased person.
    The ownership is 50/50 with the deceased owner’s sister but it sounds like she is ready to sell.
    Looking for advice – do I pass on this or do I find someone to help me with the title issues since it is a very nice parcel?

Viewing 4 replies - 1 through 4 (of 4 total)
  • Author
    Replies
  • Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    Yipee, you got a reply. go Kevin! I’d pass. I used to be a stock broker and my clients died all the time. Seemed like that paperwork took more time and and energy than my business. I used to “give” those clients to the newer brokers. We are the new guys now so maybe research until you get a better caller then put this one off until later.

    Chris
    Participant
    Post count: 252
    Pro

    @Kevin Rhatigan,

    Kevin, just curious, whatever happened with this?

    Kevin Rhatigan
    Participant
    Post count: 107
    Pro

    @chris
    @luketsmith
    @claire
    @stevenbutala
    @jilldewit

    Steve suggested posting on an RE investing site called Bigger Pockets to see if I could find an attorney who would do the probate work for a fixed fee. So far I have not had a response.

    But I will keep looking because the sellers are usually very motivated and not worried as much about price.

    Jake Robinson
    Participant
    Post count: 128
    Pro

    hmmm, seems like the estate is responsible (executor) for completing all probate issues to get estate in position to liquidate or close. When my dad passed away, I hired a Tennessee attorney to handle probate. When he learned my dad also owned property in Lousianna he said I would need to contact an attorney there to do an ancillary probate in that state. I didn’t put that responsibility on an potential buyer, that sounds pretty unreasonable. I would have responded with, if the estate/executor completes their responibilty to ancillary probate in Illinois, please call me and we can restart this transaction. Cheers

Viewing 4 replies - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.