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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Dealing with a conservator in a foreclosure situation Posted by Ward-CA- on March 04, 2002 at 8:48 PM In Reply to: Dealing with a Conservator posted by Mary-CA on March 04, 2002 at 10:16 AM : Ward, : I just learned that the foreclosure property I am interested in belongs to a man who is in a nursing home, and a conservator was assigned to his estate. The legal dictionary I consulted states that a conservator is "appointed by a court to take over and manage the estate of an incompetent". : I learned from his neighbors that the owner was a recluse; no wife; no kids; but does have a sister and neice (who don't live in the immediate area). The property is now vacant. : 1) How do I go about making an offer on the property before it goes to auction? Contact the conservator? the sister? : 2) Do I make an offer to purchase the property or just the equity? : 3) Does the conservator have the decision-making power as to whether to sell the property (since owner is deemed "incompetent")? : 4) How can I insure that I am not taking unconscionable advantage while still saving some money? =•=•=•=•=•=•=•=•=•=•= Mary, 1. I’d contact the conservator who is currently empowered to act in the best interests of the owner. The sister is just an heir apparent. 2. I’d make an offer purchase the property since it’s more traditional and best understood by the average person. 3. Yes, the conservator has the power to act on the incompetent’s behalf. 4. That’s the conservator’s job, not yours. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : I just learned that the foreclosure property I am interested in belongs to a man who is in a nursing home, and a conservator was assigned to his estate. The legal dictionary I consulted states that a conservator is "appointed by a court to take over and manage the estate of an incompetent". : : I learned from his neighbors that the owner was a recluse; no wife; no kids; but does have a sister and neice (who don't live in the immediate area). The property is now vacant. : : 1) How do I go about making an offer on the property before it goes to auction? Contact the conservator? the sister? : : 2) Do I make an offer to purchase the property or just the equity? : : 3) Does the conservator have the decision-making power as to whether to sell the property (since owner is deemed "incompetent")? : : 4) How can I insure that I am not taking unconscionable advantage while still saving some money? : =•=•=•=•=•=•=•=•=•=•= : Mary, : 1. I’d contact the conservator who is currently empowered to act in the best interests of the owner. The sister is just an heir apparent. : 2. I’d make an offer purchase the property since it’s more traditional and best understood by the average person. : 3. Yes, the conservator has the power to act on the incompetent’s behalf. : 4. That’s the conservator’s job, not yours. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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