Subject to...Dies! - http://www.dealmakerscafe.com Forums


Original message

ben
Moderator


user profileedit/delete message

"Subject to...Dies!" , Tue 24 Apr 22:09 post reply


Ok,

I just took a home today subject to. The elderly lady that owns the home is not healthy.

If she dies, does this cause any problems down the road? I feel like it won't, but I live in a community property state and didn't know if the heirs of her estate could come after it.


Ben
Moderator
www.dealmakerscafe.com
Where the average real estate investor becomes a Dealmaker!!


Replies:

Lynn
Moderator


user profileedit/delete message

"Re(1):Subject to...Dies!" , Tue 24 Apr 23:12 post reply


Ben, you will be okay. If she deeds you the property then neither her or her heirs will have any ownership or right to the property.

If you want to be really creative: How about getting life insurance on her so that if she passes away the house gets paid off. I don't know how expensive it would be, but it's worth checking into.

Happy Investing!
Lynn

Knowledge is important but all the knowledge in the world is worthless without action! How many offers did "you" make today?

 

ben
Moderator


user profileedit/delete message

"Thank you, Lynn.....(no message)" , Tue 24 Apr 23:58 post reply


Ben
Moderator
www.dealmakerscafe.com
Where the average real estate investor becomes a Dealmaker!!

RobertNM



user profileedit/delete message

"Just Marry Her! ....LOL......NT" , Tue 24 Apr 22:12 post reply


Robert in NM

 

dealmaker
Moderator


user profileedit/delete message

"YES!!!" , Wed 25 Apr 08:33 post reply


I like Robert's idea!!

Dealmaker




All rights reserved © 2000 Dealmakerscafe.com