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I purchased a lot in a development in Texas 40 years ago…

I purchased a lot...

I purchased a lot in a development in Texas 40 years ago during a high pressure sales pitch...i have never used the lot and have zero use for the lot ...the development has gone nowhere...no where except charge “resort” fees — there is no public market for the lot...how can i divest myself of the lot & monthly “dues” ?

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

No

Lawyer's Assistant: Have you talked to a TX lawyer about this?

Not yet

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I have paid the property taxes to the county, but not the monthly “dues”

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Answered in 16 hours by:
3/23/2018
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 21,365
Experience: B.A.; M.B.A.; J.D.
Verified

Hello: This is Phillipsesq. Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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I am so sorry to read about your difficulties.

Kindly note that I just came across your post. I do not have control over the question list or the promises made to you by the site as to the response time. I am just a site user just like you. Nonetheless, I apologize for the delay in response to your post.

Kindly give me a few minutes to prepare my response.

Thank you for your patience.

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If there are no interest buyers for the property, then your recourse here may be to stop paying the property taxes and let the County take over the property in a tax sale.

You may also try to see if the resort would agree to take the property back from you and you pay the transfer fee.

I am sorry, but there are no good solutions here.

Best wishes,

Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 21,365
Experience: B.A.; M.B.A.; J.D.
Verified
Phillips Esq. and 87 other Real Estate Law Specialists are ready to help you
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Customer reply replied 1 month ago
From my perspective, what is the downside of the county taking over the property ?...the tax is something like $35/year...somewhere in my credit rating it gets listed as a default?...my scores are presently in the 800s...this is such a minor asset, how much might it impact the scores ?...are there other issues that are a negative ?

Thank you for the information.

The delinquency may be reported on your credit file and would unfortunately affect your credit score. However, by how much, I cannot tell you that.

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Phillips Esq.
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 21,365
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Experience: B.A.; M.B.A.; J.D.

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