Tenants in common, never probated, want to sell

[BuyerInPa]

What is the name of your state (only U.S. law)? Pa

Im trying to buy a home that was owned by 4 people, as tenants in common. All family. 2 have passed and their portion was never probated. No wills involved. Everyone is on board with selling. Im buying for only $4500. One of the deceased has 4 heirs, the other had none except siblings, who are already on title. 3 of the 4 on title now lived in Buffalo NY, the other lived in the home. Hes one that has passed. So there are 2 survivors on the deed living in NY, and all heirs live out of town in different states except one, who is in Buffalo as well. I really don't know where to start with this one. Any advice? Need more information? I was hoping I could use Pa's small estate probate but from what I can tell because its real property I cant? I also heard that if everyone is on board theres something like a family memorandum or something that they can sign off on? Since this is such a small estate I was hoping to not go through full probate and that we can do something easy and quick.

 

[Zigner]

What is the name of your state (only U.S. law)? Pa

Im trying to buy a home that was owned by 4 people, as tenants in common. All family. 2 have passed and their portion was never probated. No wills involved. Everyone is on board with selling. Im buying for only $4500. One of the deceased has 4 heirs, the other had none except siblings, who are already on title. 3 of the 4 on title now lived in Buffalo NY, the other lived in the home. Hes one that has passed. So there are 2 survivors on the deed living in NY, and all heirs live out of town in different states except one, who is in Buffalo as well. I really don't know where to start with this one. Any advice? Need more information? I was hoping I could use Pa's small estate probate but from what I can tell because its real property I cant? I also heard that if everyone is on board theres something like a family memorandum or something that they can sign off on? Since this is such a small estate I was hoping to not go through full probate and that we can do something easy and quick.

You are really opening a vast can of worms. I would suggest you find some other property to buy.

And, yes, I do understand it's a great deal for you, but I assure you that you will be paying more in the way of money and frustration than if you simply found another suitable property.

 

[tranquility]

All owners have to agree for a sale. The property must pass by probate on each death to the person's heirs. Probate may be abbreviated if small amount of assets. Everyone has heirs. If they don't, it escheats to the state.

 

[latigo]

What is the name of your state (only U.S. law)? Pa

I'm trying to buy a home that was owned by 4 people, as tenants in common.

All family. 2 have passed and their portion was never probated. No wills involved. Everyone is on board with selling.

I'm buying for only $4500. One of the deceased has 4 heirs, the other had none except siblings, who are already on title (?). 3 of the 4 on title now lived in Buffalo NY, the other lived in the home.

He's one that has passed. So there are 2 survivors on the deed living in NY, and all heirs live out of town in different states except one, who is in Buffalo as well. I really don't know where to start with this one. Any advice?

Need more information? I was hoping I could use Pa's small estate probate but from what I can tell because its real property I cant?

I also heard that if everyone is on board there is something like a family memorandum or something that they can sign off on? Since this is such a small estate I was hoping to not go through full probate and that we can do something easy and quick.

Please explain to me how you are able to conclude that any survivors of the two deceased co-tenants - siblings, heirs or whatever - "are already on title" when you admit that neither of the estates of those now deceased co-owners of record have undergone a probate process?

OR is it possible that your phrase "already on title" is meant to express that certain "apparent heirs" of the deceased co-owners have already signed a deed or deeds of conveyance in your favor?

Frankly the only meaningful information you've conveyed here is, "I don't know where to start with this one."

I don't know where you started with others, but if you hope to some day end up with marketable title to the property, then I suggest that you begin by consulting with a Pennsylvania lawyer experienced in the practice of PA probate and real property law. And not the Internet.

I wish you needed luck in sorting through this mess. And if in the process you don't learn anything else, I'm sure you come away with an appreciation of why folks should avoid deeding or taking title to land in co-tenancy.

 

[LdiJ]

What is the name of your state (only U.S. law)? Pa

Im trying to buy a home that was owned by 4 people, as tenants in common. All family. 2 have passed and their portion was never probated. No wills involved. Everyone is on board with selling. Im buying for only $4500. One of the deceased has 4 heirs, the other had none except siblings, who are already on title. 3 of the 4 on title now lived in Buffalo NY, the other lived in the home. Hes one that has passed. So there are 2 survivors on the deed living in NY, and all heirs live out of town in different states except one, who is in Buffalo as well. I really don't know where to start with this one. Any advice? Need more information? I was hoping I could use Pa's small estate probate but from what I can tell because its real property I cant? I also heard that if everyone is on board theres something like a family memorandum or something that they can sign off on? Since this is such a small estate I was hoping to not go through full probate and that we can do something easy and quick.

How about you tell the particular people that you are negotiating with, that you will happily buy the property when they can demonstrate that they, and they alone, have clear title to the property? Let them worry about probate and buying out the other heirs, and all of that "stuff".

 

[BuyerInPa]

What I meant by the heirs already being on title is that the 4 original owners are siblings. The one who passed with no children, also has no parents, grandparents, or other heirs, except for the siblings that they were already on title with. Hope that makes sense.

I didnt mention, because I dont believe it means anything anyway, that 3 of the heirs did quit claim to the 4th. Thinking this would be enough to make title marketable.

As far as having them take care of this mess, thats the intention, Im just trying to help speed things along because they all know less about this stuff than I do lol, and as you can see, I dont know to much.

I guess I just have to tell them to get a lawyer and get it probabted, lawyer will probably cost more than what theyre selling the property for, soooo Ill probably lose this deal unfortunately. Thanks anyway..

 

[BuyerInPa]

Well, its been a few weeks and heres where were at, after much googling etc, and figuring stuff out on our own, the one heir has been named administrator of the 2 decedents estates. One living owner has filed a quit claim naming the Admin, and admin also has quit claims from the other surviving owner, as well as his 3 sibling heirs. Everyone is in agreement on the sale etc.

My question at this point pertains to the QC deeds, and how title gets transferred to new buyer. Does he have to file all of the deeds? Just file the one quit claim deed from survivor and execute a fiduciary deed to buyer? How do the heirs play into this part of it? I guess im confused on how the heirs get bypassed if he just uses fiduciary deed or something. Can someone clear this up for me? Thanks

 

[Stressed About]

What I meant by the heirs already being on title is that the 4 original owners are siblings. The one who passed with no children, also has no parents, grandparents, or other heirs, except for the siblings that they were already on title with. Hope that makes sense.

I didnt mention, because I dont believe it means anything anyway, that 3 of the heirs did quit claim to the 4th. Thinking this would be enough to make title marketable.

As far as having them take care of this mess, thats the intention, Im just trying to help speed things along because they all know less about this stuff than I do lol, and as you can see, I dont know to much.

I guess I just have to tell them to get a lawyer and get it probabted, lawyer will probably cost more than what theyre selling the property for, soooo Ill probably lose this deal unfortunately. Thanks anyway..

Eesh....I've been told before that Quitclaims make property uninsurable for a number of years (depending on each state of course) You might want to ask someone about this.

 

[quincy]

Eesh....I've been told before that Quitclaims make property uninsurable for a number of years (depending on each state of course) You might want to ask someone about this.

You were told wrong. There is no truth to what you have written, Stressed About.

 

[Stressed About]

You were told wrong. There is no truth to what you have written, Stressed About.

http://www.sourceoftitle.com/blog_node.aspx?uniq=821

Is this article false then ? This is one of many online with similar stories.

 

[Zigner]

http://www.sourceoftitle.com/blog_node.aspx?uniq=821

Is this article false then ? This is one of many online with similar stories.

What does that have to do with PA law?

 

[Stressed About]

What does that have to do with PA law?

My original statement says "(according to each state)" which, I meant to convey that it varies from state to state.

Anyway, I dont want this to spiral into focusing just on the quitclaim for the poster. I was offering up some advice in case the situations in PA have unforeseen consequences.

 

[Zigner]

My original statement says "(according to each state)" which, I meant to convey that it varies from state to state.

Your statement indicated that the number of years varies by state.

Just sayin'

 

[justalayman]

I guess im confused on how the heirs get bypassed if he just uses fiduciary deed or something.

Um, run or hire an attorney.

the heirs of the decedent don't get bypassed. They either inherit their parent's estate or the value of it if the administrator sells the assets of the estate.

and the value is based on an appraisal (ya'll got one of those, right?) not some contrived value with no basis in fact.

 

[justalayman]

My original statement says "(according to each state)" which, I meant to convey that it varies from state to state.

Anyway, I dont want this to spiral into focusing just on the quitclaim for the poster. I was offering up some advice in case the situations in PA have unforeseen consequences.

the article you linked is very specific to Texas and Texas law. None of it is applicable to any other state, including PA.