Originally posted by codyw2006
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I got a very interesting call today!!
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Originally posted by codyw2006 View PostIt doesn't list my countylol
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With homes purchased at tax sales the original owner has 2 years to repurchase the property for what you spent plus 25pct 1st year and 50 the second I think? This includes any essential repairs as well. I'm not sure if its the same for land or not though. I've looked into purchasing homes at tax sales but most aren't worth the trouble to fix up and remove the people living in the home. Not to mention you don't know anything about the homes usually.
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You need to do something quick. In Texas if property has not had improvements made on it in a certain period of time it can be taken over by anyone willing to make improvements. I have a friend who just lost 34 acres in Tilden because they had not made improvements but had been paying taxes. Doesn't seem right but it happened.
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Curious to know what happened?
Originally posted by Ronnie41 View PostYou need to do something quick. In Texas if property has not had improvements made on it in a certain period of time it can be taken over by anyone willing to make improvements. I have a friend who just lost 34 acres in Tilden because they had not made improvements but had been paying taxes. Doesn't seem right but it happened.
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Originally posted by Burnadell View PostCurious to know what happened?
There is more to the adverse possession laws than just making improvements. They also have to have paid taxes for 10 years, maintain the property and treat it as your own among other things. Something does not make sense here. You can't just make improvements on someone else's property and claim it.
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Originally posted by Burnadell View PostCurious to know what happened?
There is more to the adverse possession laws than just making improvements. They also have to have paid taxes for 10 years, maintain the property and treat it as your own among other things. Something does not make sense here. You can't just make improvements on someone else's property and claim it.
They had sections of property called pocket farms. Little quarter acre tracts sold in the early 20's. When the Great Depression hit, most people lost their deeds, or filed them away and never haired them. So there's 100's of unclaimed .25 acre tracts.
They bought 10acres next to it and started using the 100 acres for cattle. Completely fenced in the property and paid taxes on it for 20 years or so.
I kind of kick myself now, but at the time I couldn't afford the risk. But they offered to sell me the property for around 200k. They have a small house on it with all amenities. They told me of the issues with the deed, so I knew the bank was going to go bonkers if I had tried to finance it.
I contacted a lawyer, and he told me they needed to satisfy 1 more requirement to fully claim the land. They needed to post their intentions in a highly trafficked public area, or 2 or 3. Anyone at that point could protest it if they could show ownership of any number of tracts of land, and it would void the whole thing... but he felt confident it wouldn't happen.
Well.... they are now the proud owners of the 100 acres. I believe they posted it at the post office and city hall of the next biggest city nearby.
Worked out well for them.
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Originally posted by flywise View PostYou can find out by asking him exactly what properties he is talking about because you uave so many you cant keep track. Play him a little and get more info.
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