What is the name of your state?Montana, Butte Silver Bow County
I am looking into purchasing a historical building in my community to turn it into a B&B and also offering tours there. It is currently privately owned and the owner has mortgaged it as collateral for personal items such as cars, etc - far more than its actual value. He also owes back taxes, and there is a lien on the building. I would like to purchase the building outright, but it is only worth so much as it is and it will require a SIGNIFICANT amount of restoration and repair. Would I be required to pay the back taxes he owes to the county in full or up to a certain point in order to buy the building (he is always able to pay the current year in order to keep the building)? Back in 1999, someone else tried to buy the place and got burned pretty badly by this guy - he managed to file a claim with the MT dept of labor for wages he claimed the purchaser promised to pay him while they were working out the deal. The deal never went through, but the state ordered the purchaser to pay the back wages to the tune of $60,000. The purchaser paid all but $25,000 and the story I'm getting is that the state put a lien on the building for that amount. At the time, it was thought that the deal would procede, but it never did. Can there really be a lien on this guy's building for money that he was supposedly owed? Would I be responsible for that lien in order to get a clear title or deed? Does anyone know of any grant programs that help people purchase historic buildings? Thanks. PS this was a very highly publicized case - you can find it all over the web if it would help you. It was Rudy Giecek (the owner) V. ISWFACE (International Sex Worker Foundation for Art, Culture and Education).
I am looking into purchasing a historical building in my community to turn it into a B&B and also offering tours there. It is currently privately owned and the owner has mortgaged it as collateral for personal items such as cars, etc - far more than its actual value. He also owes back taxes, and there is a lien on the building. I would like to purchase the building outright, but it is only worth so much as it is and it will require a SIGNIFICANT amount of restoration and repair. Would I be required to pay the back taxes he owes to the county in full or up to a certain point in order to buy the building (he is always able to pay the current year in order to keep the building)? Back in 1999, someone else tried to buy the place and got burned pretty badly by this guy - he managed to file a claim with the MT dept of labor for wages he claimed the purchaser promised to pay him while they were working out the deal. The deal never went through, but the state ordered the purchaser to pay the back wages to the tune of $60,000. The purchaser paid all but $25,000 and the story I'm getting is that the state put a lien on the building for that amount. At the time, it was thought that the deal would procede, but it never did. Can there really be a lien on this guy's building for money that he was supposedly owed? Would I be responsible for that lien in order to get a clear title or deed? Does anyone know of any grant programs that help people purchase historic buildings? Thanks. PS this was a very highly publicized case - you can find it all over the web if it would help you. It was Rudy Giecek (the owner) V. ISWFACE (International Sex Worker Foundation for Art, Culture and Education).