Show me the money!
February 26, 2008 11:24 AM Subscribe
OK so my grandfather bought the proverbial 'swamp land in Florida'...
He died 20+ years ago. The property was recently sold at auction for 5 figures by/to a developer. AFAIK it was sold for back taxes which were less than the sale amount. A company contacted us and said there may be money, but of course they would want a cut. I have found several documents online that record the sale. How do I go about getting the remaining funds without involving them?
He died 20+ years ago. The property was recently sold at auction for 5 figures by/to a developer. AFAIK it was sold for back taxes which were less than the sale amount. A company contacted us and said there may be money, but of course they would want a cut. I have found several documents online that record the sale. How do I go about getting the remaining funds without involving them?
Response by poster: I know exactly where, when, and how much it sold for. I have copies of all the documents. What I really want to know is has anyone ever dealt with a city or county recovering money from the sale of property that was taken for tax liens. If so do you have any tips. thanks
posted by Gungho at 11:41 AM on February 26, 2008
posted by Gungho at 11:41 AM on February 26, 2008
IAAL, IANYL, and I don't have experience with these types of matters.
Now that we have all of those caveats out of the way, have you checked the unclaimed property site that Comrade linked? It's possible that you could find a listing there in Grandpa's name, and if so, there's your answer. Follow the site's instructions for making a claim (see the FAQs regarding what to do if the original owner is deceased), and you're off to the races.
If you did check that site but didn't find a listing, you should find, copy, and read the court file in the foreclosure action. Find the court clerk's office in the county where the land is located and get a complete copy of the court file. You should be able to tell from the court documents (particularly those related to the judicial sale) if there was any surplus after payment of the tax liens, court costs, and other liens on the property. If it looks like there was enough of a surplus to make it worth your while (or if you can't make heads or tails of the file), take it to a Florida-licensed lawyer who specializes in foreclosures.
posted by slmorri at 11:10 PM on February 26, 2008
Now that we have all of those caveats out of the way, have you checked the unclaimed property site that Comrade linked? It's possible that you could find a listing there in Grandpa's name, and if so, there's your answer. Follow the site's instructions for making a claim (see the FAQs regarding what to do if the original owner is deceased), and you're off to the races.
If you did check that site but didn't find a listing, you should find, copy, and read the court file in the foreclosure action. Find the court clerk's office in the county where the land is located and get a complete copy of the court file. You should be able to tell from the court documents (particularly those related to the judicial sale) if there was any surplus after payment of the tax liens, court costs, and other liens on the property. If it looks like there was enough of a surplus to make it worth your while (or if you can't make heads or tails of the file), take it to a Florida-licensed lawyer who specializes in foreclosures.
posted by slmorri at 11:10 PM on February 26, 2008
call the Bar Association in the county where the land is and ask for a list of attorneys who specialize in real estate transactions. protect yourself and your interests by asking a professional for help!
posted by kuppajava at 12:26 PM on February 27, 2008
posted by kuppajava at 12:26 PM on February 27, 2008
This thread is closed to new comments.
posted by the christopher hundreds at 11:38 AM on February 26, 2008