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We sold property to a tennant taking the mortgage back. His…

We sold property to a...
We sold property to a tennant taking the mortgage back. His finances went down with his health. He fell behind in payments. He died in Feb. without a will. He has two elderly sisters up north who barely manage to Pay for cremation and couldn't make it to Florida to pay their respects. They want me to take the place back. They can't afford to pay for foreclosure in Florida and I can't afford it either. I am living with my daughter and husband in Virginia. My grand kids in Florida cleaned out my reserves. I was so busy caring for my husband who died etc. I am blessed to be 91 and still have my faculties. I had to foreclose on our residence in Panama City, ( across the street from the property I'm dealing with now) That cost me $5000.00 ! God Bless You for any advice you may have for me
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Answered in 1 minute by:
3/17/2018
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,585
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

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Good afternoon. Rather than foreclose, have them simply give you a deed in lieu of foreclosure. Whoever is in charge of his estate needs to simply sign a deed on behalf of the estate transferring the title to you in exchange for a release of the debt. The deed would need to be witnessed, notarized, and then recorded in the real property records of the city/county in which the property is located. That will save you all the time and expense of a foreclosure. :)

Thank you so much for allowing me to help you with your question. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

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Customer reply replied 1 month ago
You did just fine. Do they have 10 stars ? There is a problem with using your answer There was no will so no one is in charge of the estate. How do they become self appointed. They just want me to take the property back and not pay anything or have any responsibility. That's usually where probate comes in. Which we all hope to avoid. We aren't talking about a lot of money but when you don't have. T,he deceased had a bank account. I have the Number but no authority.

In what state is this property located? And, what is the value of the property?

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I just wanted to let you know that I will be away at a meeting for the remainder of the day. Should you have a follow up while I’m away, I will address it immediately upon my return tomorrow morning. Thank you in advance for your patience. I apologize for any inconvenience.

Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,585
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Richard
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,585
56,585 Satisfied Customers
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.

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