No clear deed question


#1

Seller owes back taxes on lot that we will clear up; we agree on what to pay him, but his wife is on the original deed. They are divorced haven’t seen each other for years, and according to him she is incapacitated (not sure what that means).

She lives in Mn. the deal is in Texas. We are not really to worried about the wife because the seller had forgotten he owned the lot (really) and he says she doesn’t remember either, we mainly want the property for a buffer to our current property.

Question is what kind of instrument should I ask for from him for his interest? Is there anything better than just a quitclaim deed?


#2

I don’t know… a seller that says his ex-wife won’t remember the lot AND that he hasn’t seen her in years AND says that she is incapacitated…but he’s the only one getting any money for it, right? … it’s easy to see where he’s coming from.

You say you aren’t worried about the wife, but with that story, I’d worry a little. Ex-spouses say a lot of things. And they forget things too, like that the final dissolution order gave her the entire lot.

Are you planning to go without title insurance on this one?


#3

Thank you

Thank you

Good post


#4

The reason we’re not to worried about the wife is we are getting this thing for virtually nothing.

The seller wants out because he is retired in Ca. and doesn’t want the lot, or the tax liability that comes with it. We just want the lot because it is next to our property. We are not going to build on it.

Before we started digging into this there had been no taxes paid in 20 years, even at that we will only be out <4k to get his interest + 0 balance at the tax office. We’re willing to risk that.


#5

Whats title co say?

Real arbiter here is local title co regarding what IT will require you to have in order for it to insure your title when you get ready to sell.

So drop in and have a visit with a local T Co and its Title Officer to see what it’ll want you to have for deed when you sell.


#6

Thanks for the reply, setting up a meeting now.