InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Code References 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] 5 years Posted by bukzin on February 02, 2006 at 5:07 PM In Reply to: Alleged meth activity... posted by Ward-CA on February 02, 2006 at 12:59 AM : : There's surprisingly little statutory requirement that a property's previous notoriety need be disclosed. That includes murder, suicide, HIV, causes of death, drug use, hearsay, etc. : But once the hearsay is actually verified and it’s discovered there’s a dangerous contamination or condition on a property that’s up for sale, then regardless of its cause the owner is required by law to disclose that information to whoever tenders an offer to purchase. : So now that you’ve been made aware of a possible contamination on your property it’s incumbent upon you to verify if it’s true or not and then ameliorate the problem if there is one. : I would start with the previous owner who you suspect was a culprit in the alleged meth making activity. Check out their name in your local Superior Court’s criminal index to see if there’s a reference to a trial within the last 5 years concerning dealing in meth. : Hope this helps, : : ~~~~Ward~~~~ : : Our latest purchase came with a surprise. (in California) : : We checked the county web site for known meth houses : : and no info found. : : A local real estate agent is telling us this house : : was used in the past to make meth. : : The last owner bought it with a conventional loan : : (with bank appraisal, pest inspection, full title insurance : : one would assume) so there is one change of ownership : : before our purchase. The drug activity was previous to him. : : The agent is saying all the local agents/brokers : : have knowledge and will disclose the house history. : : Any thoughts on how to get out of this one : : without losing $$$ ? : : Thanks +++++++++++++++++++++++++++++++++++++ You mentioned 5 years; is our liability lessened after that time? We have yet to confirm when this drug activity occurred, but seems like it was a couple of owner back. Bukzin Follow Ups: Just a clerical time period... Ward-CA 8:39 PM, 02/02/06 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : : There's surprisingly little statutory requirement that a property's previous notoriety need be disclosed. That includes murder, suicide, HIV, causes of death, drug use, hearsay, etc. : : But once the hearsay is actually verified and it’s discovered there’s a dangerous contamination or condition on a property that’s up for sale, then regardless of its cause the owner is required by law to disclose that information to whoever tenders an offer to purchase. : : So now that you’ve been made aware of a possible contamination on your property it’s incumbent upon you to verify if it’s true or not and then ameliorate the problem if there is one. : : I would start with the previous owner who you suspect was a culprit in the alleged meth making activity. Check out their name in your local Superior Court’s criminal index to see if there’s a reference to a trial within the last 5 years concerning dealing in meth. : : Hope this helps, : : : : ~~~~Ward~~~~ : : : : Our latest purchase came with a surprise. (in California) : : : We checked the county web site for known meth houses : : : and no info found. : : : A local real estate agent is telling us this house : : : was used in the past to make meth. : : : The last owner bought it with a conventional loan : : : (with bank appraisal, pest inspection, full title insurance : : : one would assume) so there is one change of ownership : : : before our purchase. The drug activity was previous to him. : : : The agent is saying all the local agents/brokers : : : have knowledge and will disclose the house history. : : : Any thoughts on how to get out of this one : : : without losing $$$ ? : : : Thanks : : +++++++++++++++++++++++++++++++++++++ : : You mentioned 5 years; is our liability lessened after : that time? We have yet to confirm when this drug activity : occurred, but seems like it was a couple of owner back. : Bukzin 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

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2006, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455