Landlord passes away without a will - Posted by Murphy

Posted by John Merchant on August 27, 2003 at 19:47:56:

The law on the question is the law of the State wherein the RE is situated.

What state is it? Probably some lawyer or otherwise law knowledgeable reader in that state can quickly help you.

You’re definitely on the right track as the heirs & any court appointed administrator are going to be looking for liquid (cash!) assets to be distributed after last expenses, funeral, etc. have been paid.

This is a golden opportunity for REIs.

Also know that if NOBODY comes forward, it might be possible for YOU to be appointed to administer the assets of the deceased “intestate” (no will), so you’ll maybe want to consult with your own lawyer in that state if nobody else steps forward to do this.

You’d be advised to hold off applying to be the Admr. yourself, until you KNOW nobody else is coming forward. It would saddle you with some special legal obligations, since you’re an interested party, being a tenant, and a possible buyer for the property.

Good luck here.

Landlord passes away without a will - Posted by Murphy

Posted by Murphy on August 27, 2003 at 10:22:35:

My lease expired in April 2003, and we have been going just month to month with a verbal agreement with the landlord. I noticed that the last couple of rent checks were not deposited, or cashed. We discovered that the landlord had passed away. We are currently living in our home, and still paying rent to our Landlord who is deceased.

We have learned from his cousin, that the only will for our landlord left everything to his wife, who preceeded him in death 6 years earlier. This will was registered in Michigan. The death of our landlord occured in Texas, and the property is in Texas.

I have since discussed the idea of purchasing the property from the cousin. He is interesed; but, has said that he is unable to help, or do anything because the property is in probate.

Could you give me a better idea of what I need to do to possibly purchase the property, and to also maintain repairs on the home? What is the average time for probate to last? What would speed up the process, and what would slow it down?

Thank you,