Posted by Jimmy on September 19, 2005 at 07:47:37:
I would really like to obtain this property before the frenzy at the tax deed sale.
PROBABLY TOO LATE.
Who would have to sign the deed, any officer of the corporation or the same one who signed originally?
THE COMPANY NEEDS TO BE REINSTATED BEFORE AN OFFICER THEREOF CAN EXECUTE A DEED. YOU MUST FIND THE SHAREHOLDERS. REINSTATEMENT DOES NOT TAKE A LOT OF TIME, BUT IT TAKES SOME MONEY.
Can and officer of a defunct company still sign the deed?
HE CAN, BUT YOU WOULD NOT GET GOOD TITLE. THE TITLE COMPANY WILL KILL THE DEAL. IF YOU TRY TO DO IT WITHOUT A TITLE POLICY, THE COUNTY RECORDER WILL LIKELY NOT CATCH THE PROBLEM. BUT YOU WILL HAVE A CLOUD ON TITLE THAT COULD JUMP UP AND BITE YOU LATER.
Is possible to buy or reinstate the corporation and elect myself the officer and sign the deed myself to obtain ownership of the property?
YES. BUT YOU CAN’T DO IT ALONE. YOU HAVE TO FIND THE SHAREHOLDERS OF THE COMPANY.
I was also considering Adverse Possession.
Does anyone know the repercussions if the owner of the corporation were to resurface after I were to pay the taxes and rent the property out to tenant?
IT TAKES YEARS TO SECURE A PROPERTY BY ADVERSE POSSESSION. AND THE TAX SALE IS LOOMING. FORGET ABOUT IT.
Posted by Allan on September 18, 2005 at 13:19:46:
There is a 3/2 house that is going to deed sale September 27, 2005. Back taxes have not been paid since year 2000 and total $10600. The property needs about $10000 in repairs and would rent for $1200 per month. The count records show no mortgage on this property. The owner of record is a Florida corporation that has been inactive since 1998. The mailing address for this corporation is in Scotland and is believed to be defunct because there is another business working out of that address. I emailed the business owner of that address and he believes that they are no longer in business. I have been unable to locate any of the officers of that company.
I would really like to obtain this property before the frenzy at the tax deed sale.
Who would have to sign the deed, any officer of the corporation or the same one who signed originally?
Can and officer of a defunct company still sign the deed?
Is possible to buy or reinstate the corporation and elect myself the officer and sign the deed myself to obtain ownership of the property?
I was also considering Adverse Possession.
Does anyone know the repercussions if the owner of the corporation were to resurface after I were to pay the taxes and rent the property out to tenant?
Allan
Posted by Bill H on September 20, 2005 at 10:08:53:
Depending on how bad you want the property. The only immediate solution I see is to go down and pay the back taxes…that will cancel the tax sale and give you room to work…along with all the others who are after the property…risk and reward go hand in hand. High risk …high reward…no risk…no reward. As the old saying goes…You pay your money and take your chances.