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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] PRE-Probate Posted by Rick, the Probate Guy on May 04, 2009 at 7:11 AM In Reply to: Re: Probate posted by Kristine-CA on May 03, 2009 at 3:30 PM I agree. Many times would-be investors contact me with deals that they automatically assume are probate deals. Once I tear into them and determine the merit, after I reverse engineer them I'll discover that the caller never did any real research because the title is currently held by: 1) decedent and spouse, as husband and wife as joint tenants, or 2) parent and child, as joint tenants, or 3) in a trust, or 4) on title with one or more people as tenants in common (usually with no specific title designation, hence T.I..), or 5) the decedent is not on title in any way, and does not appear to have any interest in the property. This is rather disheartening to me since many of the callers come from my friendship with Ward and others on this board, which I still believe to have the occassional vigorous discussions about title. Regarding your prospective deal in particular, DO reverse engineer the title, obtain copies of, and read, all documents affecting title from F.I.T.E.S. as Ward advises his trainees to do. Then, identify all entrance strategies to acquiring this property. Purchasing a pre-probate property is fraught with problems, and believe me, Kristine and I have both encountered them (we compare notes frequently). I prefer to think of probate as a big title issue that I'd rather avoid, when possible. So, get the facts, reverse engineer the property, and be very clear about what it is you're buying (real estate vs. someone's interest in real estate). Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I agree. Many times would-be investors contact me with deals that they automatically assume are probate deals. : Once I tear into them and determine the merit, after I reverse engineer them I'll discover that the caller never did any real research because the title is currently held by: : 1) decedent and spouse, as husband and wife as joint tenants, or : 2) parent and child, as joint tenants, or : 3) in a trust, or : 4) on title with one or more people as tenants in common (usually with no specific title designation, hence T.I..), or : 5) the decedent is not on title in any way, and does not appear to have any interest in the property. : This is rather disheartening to me since many of the callers come from my friendship with Ward and others on this board, which I still believe to have the occassional vigorous discussions about title. : Regarding your prospective deal in particular, DO reverse engineer the title, obtain copies of, and read, all documents affecting title from F.I.T.E.S. as Ward advises his trainees to do. : Then, identify all entrance strategies to acquiring this property. Purchasing a pre-probate property is fraught with problems, and believe me, Kristine and I have both encountered them (we compare notes frequently). : I prefer to think of probate as a big title issue that I'd rather avoid, when possible. : So, get the facts, reverse engineer the property, and be very clear about what it is you're buying (real estate vs. someone's interest in real estate). : [ 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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