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William B. Esq.
William B. Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 2958
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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I was looking at this house in Alton N.H. that was vacant.

Resolved Question:

I was looking at this house in Alton N.H. that was vacant. The owner passed 3 years ago. I talked with his daughter an she told me he got a reverse mortgage. I went to town hall to find what bank had note. They don't know who has it. The bank that I though had it must have been bought out phone number out of service. Town hall sent a certified letter to a bank in Fla. Someone signed for the letter but no money for the taxes that is owned. Can I pay the back taxes fix up the place an but a lien on the place to protect myself. I would be the one to move there.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  William B. Esq. replied 1 year ago.

CalAttorney2 :

Dear Customer, thank you for choosing Just Answer, I would like to assist you today.

CalAttorney2 :

You may assume the risk of moving in and taking on the duties of a landowner, including paying taxes and other assessments on behalf of the lender. The hope would be that the lender does not appear and you may claim the property through adverse possession.

CalAttorney2 :

Unfortunately, the statue of limitations in NH for adverse possession is 20 years do your risk is significant.

Customer:

Would it be the right thing to do putting a lein on the place to protect my investment on upgradeing the place.

CalAttorney2 :

If you would like a more detailed investigation into the title on this property I would suggest a title insurance company or escrow company to do a full title report.

Customer:

So not a good idea to jump into this place. The town would look for the deed in 2014 they said.

CalAttorney2 :

Unfortunately, you are running the risk of doing all of this as a gratuity. You would be trespassing on another's land and you are not entitled to compensation by law, however in rare circumstances you may've able to get a court to award you equitable damages for "unjust enrichment"

CalAttorney2 :

Cannot advise you once way or the other, but these are risky transactions.

CalAttorney2 :

You can still follow up on a full title report off you want to pursue taking ownership traditionally. The property still belongs to someone.

Customer:

Should I wait for the town to find out who ownes the property.

CalAttorney2 :

You can, but you can also be more proactive and search out the lender. Even if the lender went under, it almost certainly had creditors that now hold Ann interest in the property. You can usually purchase this information for a nominal fee, but make sure to use s reliable source (I prefer"brick and mortar"title or escrow companies myself)

Customer:

I called three banks with no answer. There phones were all disconected

CalAttorney2 :

That is where the title company would come in. It is their job to search title records and see who currently holds the note. (If you cannot find this information, with our without the title company, you are in the position of holding property under adverse possession as we discussed above.

Customer:

Thanks Bill, Something to think about. I have three years to retire. So i'am not in a hurry just yet.

CalAttorney2 :

I do wish you the best with this, and hopefully it works out well.

Customer:

Thanks again. I was looking for Henry Winkler on the reverse comical to call an ask who owns this property.

CalAttorney2 :

I'll keep an eye out.

Customer:

Have a good night Bill. Great help.

William B. Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 2958
Experience: I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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