Real Estate Investing!

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

Original message

ben
Moderator

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

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

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

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

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

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

RobertNM

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

Robert in NM

dealmaker
Moderator

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

I like Robert's idea!!

Dealmaker