HElp!! My home and Future is at stake!

squall himura · #1 (**permalink**) 01-06-2008, 03:08 PM

I've inherited property some years ago through the will of a family member and three years ago i decided to have the property transfered into my name so i hired a lawyer to help. However, i made a terrible mistake in selecting my lawyer- he doesn't have experience in real estate i think.

So with that being said, it's been three years since i've hired a lawyer to set the wheels in motion and the property is still not in my name and the lawyer retired last month and told me that he will have a friend take over the case.

Now, my problem is that i haven't really maintained the property at all and have a dilapidated porch as well as many other problems ( the apartment building needs a complete restoration).

The city has recently came to inspect it and gave me several citations and i have to replace the porch immediately. I don't have any money to do that and unfortunately i have bad credit with a 560 score.

how can i finance the replacement of the porch?? i have been to two banks that have refused. the properties i have inherited are valued at about $800,000 and i have a yearly salary of 43,000 ( not including bonus) and i'm 22 years old. any adise as to how to secure a loan to replace the porch???

Thank you for taking the time to read this and any comments and advise will be greatly appreciated.

GarySpicuzza · #2 (**permalink**) 01-07-2008, 07:44 AM

squall himura, in paragraph two you wrote:

Quote:

"...the property is still not in my name..."

That's pretty much THE END OF THE STORY!

Unless and until the deceased person's will is probated it is the ESTATE of the deceased person who owns the property.

You say you've, "...inherited property some years ago through the will of a family member..."

Being listed as a beneficiary under a Last Will & Testament DOES NOT give you any incidents of ownership until a Judge's Court Order says you are now the owner of the property.

You asked, "how can i finance the replacement of the porch??"

YOU CAN'T because YOU don't own the property.

You need to contact an attorney who Probates wills for a living.
He or She will be more than happy to help you.

There's obviously more to this story but the above is what I'm understanding from the content of your original post.

P.S. If Letters of Administration have been issued AND there is a Court Order stating the property is rightfully yours, then all you need to do is take the Court Order along with a Persanal Representative's Deed down to the Official Records clerk's office and record the Deed granting you ownership of the property.

planner · #3 (**permalink**) 01-07-2008, 09:44 AM

I agree with him. The first thing you really ought to do is to settle the "title" issues. You better follow-up your lawyer and get things going.

You are wasting much time, money and effort on this.

Mynion · #4 (**permalink**) 01-07-2008, 12:27 PM

Gary's post says it all...

I would just like to add that, if you have not been recognized as owner of the property, then the city cannot legally cite "you" for replacement of the porch. The estate can be cited, and if there are no estate funds to be used for this purpose, then there will be continuing financial consequences building up until action is taken.

Probate issues can be long and tedious, but you need an attorney who specializes in Probate, as Gary said, instead of some hand-me-down attorney.

Hermes · #5 (**permalink**) 01-08-2008, 05:10 PM

I agree with Gary (that is two times we are in agreement

).

Since the property is not legally yours you have no obligations to the property.

GarySpicuzza · #6 (**permalink**) 01-08-2008, 07:45 PM

Agree, agree, agree, agree....

Blah, blah, blah, blah...

That's no fun......

Let's create some controversy!!!!!!!

squall himura...I don't really believe your post or there is a lot missing or something is just plain WRONG.

You say you're 22??????????????? So 3 years ago you would have been 19 and just graduated high school. Now who leaves a 19 year old $800,000 worth of real estate without any means to manage same?

Plus since this property is not in your name WHO has been paying the insurance and taxes on the property since your relative DIED?

Hmmmmmm?

Also, you claim this is an apartment...who's managing the tenants???

I'm just saying.....

Also you said and I quote:

Quote:

I've inherited property some years ago through the will of a family member and three years ago i decided to have the property transfered into my name so i hired a lawyer to help.

Does "some years ago" mean you were 12 when you got this property and just decided to put it in your name 3 years ago at the ripe old age of 19?

I'm confused.

...that was fun and I feel better now!!!

Message Boards can be fun when not taken too seriously.

Now let's debate this ridiculous post?????

Or....

Do you all still agree?

Sanabanana · #7 (**permalink**) 01-10-2008, 12:57 AM

I agree ^ you are smart. lol

ryan07 · #8 (**permalink**) 01-20-2008, 01:07 PM

well done garry he must be a fake only one post and as a spam ...
dam....

Shell · #9 (**permalink**) 02-03-2008, 09:58 PM

Hi,
I kinnda agree with gary.....
i don't know but sounds like something is missing,

just my 2 cents,

shell

gibbles · #10 (**permalink**) 02-08-2008, 09:58 PM

What I don't understand is that if it's a fake post, where's the punchline? Such stuff is usually for advertising, right?

C-squared · #11 (**permalink**) 02-09-2008, 10:12 PM

My father owns real estate, which I currently manage with him, and Gary...very right. None of this adds up.

detroitinvestor · #12 (**permalink**) 02-10-2008, 12:19 PM

There definitely has to be more to the story. If the property has that kind of value I find it hard to believe 3 years has gone by and nothing.

cabbage753 · #13 (**permalink**) 02-14-2008, 12:59 AM

we could have some fun with this little brat. I would have sold the property (oh not in my name can't sell it)

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