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New Lease Agreement Question #7265536 08/23/18 08:16 PM
Joined: Jan 2017
Posts: 4
J
Jacobs Offline OP
Green Horn
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Green Horn
J
Joined: Jan 2017
Posts: 4
Hey Guys, I found a potential property to hunt, but the owner listed is deceased. The new owner, according to the will, is open to a lease agreement. What document would I need to request to keep with the lease agreement to confirm permission? Anyone else been in a similar situation that may have some tips to look out for? Thanks!

Re: New Lease Agreement Question [Re: Jacobs] #7265568 08/23/18 08:52 PM
Joined: Feb 2009
Posts: 5,362
G
GLC Offline
THF Trophy Hunter
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G
Joined: Feb 2009
Posts: 5,362
If the property is not in the name of the person you are talking to, you are on your own. If you think it is worth the risk, then your decision. Be like buying a car in someone elses name in the hopes that it will belong to you in the future. Case and point: I bought a four wheeler from a lady that had belonged to her dad. He died and left it to her in a will. I had two options, 1. Tried to get her to get it titled in her name first and then sell to me, which she did not want to do. 2. Got copy of will, her power of attorney letter for her dad, she signed the release on the title and still the tax office did not want to release and title it in my name.



Re: New Lease Agreement Question [Re: Jacobs] #7265626 08/23/18 09:41 PM
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TakeMeLord Offline
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Bird Dog
T
Joined: Oct 2011
Posts: 335
May I suggest: Look at will. Who is executor? Who are the beneficiaries. Ask if will has been probated. If probated, ask if there is a court order that "Admits Will to Probate." If there are none of those things, ask if will is going to be probated. Or, alternatively, ask if they would agree that a title company (they can pick which title company) can hold the lease monies until ownership is determined. If they ask why, explain if someone else comes forward and objects to the lease, then you simply want to get your money back.

Re: New Lease Agreement Question [Re: Jacobs] #7266319 08/24/18 03:57 PM
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Jacobs Offline OP
Green Horn
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OK, I see the risks here; thanks GLC and TakeMeLord for the info!

Re: New Lease Agreement Question [Re: Jacobs] #7266331 08/24/18 04:10 PM
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Herbie Hancock Offline
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A quick way to find out if an Estate has been opened is to just call the County Clerk for the respective county to see if a probate has been opened.

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