Property with cloudy deed


#1

Last year I was able to buy a lot worth about 20k for 6k. The reason for the good deal was sellers widow was on the deed, he didn’t know where she was, taxes hadn’t paid in years etc.

Anyway, with a lot of hard work and some legal advice we made a deal and I got a general warranty deed.

After the deal I got to looking around and discovered that in my area (maybe all areas) there is a lot of property in the same condition, people willing to sell, but unable to do because they can’t provide a clear deed for one reason or another.

My question is, does anyone know of any courses that specialize or give advice in this type of investing? I’ve not found any courses specific to this. It looks like it may be an underworked type of real estate investing.


#2

Getting a warranty Deed is easy. Getting Title insurance is hard. Unless you ere able to get title insurance when you bought or sold, it isn’t clear to me what you bought. The book you need is called the State Statutes or Law book, a Title standards manual for your State might also be useful. You are not going to find any useful dumbed down version of those. Understanding title law requires a substantial amount of legal understanding. I would say if you have to ask where to find the information you seek then you are not ready to invest in such properties.


#3

Thanks for the reply.

BTW was able to get title insurance, so I know the process will work.

But I think you confirmed my suspicion that there is not a condensed course on this subject. Maybe there is an opportunity there.

Thanks