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YOUR OPTIONS

Your Options for a Difficult Property

Three practical paths, with different tradeoffs in value, time, cost, and control.

1Leave it unresolved
2Handle it yourself
3Sell to a specialized buyer

A property with unresolved ownership, probate, taxes, liens, occupants, or condition problems may not be ready for a normal sale.

In most situations, an owner has three basic paths.

The right choice depends on the property, the amount of value involved, the work required, and what the owner wants to accomplish.

1

OPTION ONE

Leave the Situation Unresolved

Doing nothing may be practical when little value remains or no one wants to invest the time and money needed to address the property.

Waiting can also allow the situation to become more difficult.

Over time:

  • Taxes and penalties may continue to grow
  • Buildings and land may deteriorate
  • Liens or code issues may increase
  • More heirs may become involved
  • Owners may become harder to locate
  • Ownership may become more difficult to prove
  • The property may move closer to tax foreclosure or another forced sale

Doing nothing may avoid an immediate expense, but it generally provides the least control over what happens next.

2

OPTION TWO

Handle It Yourself

An owner or family may decide to complete the work necessary to control and sell the property.

That may include:

  • Opening or completing probate
  • Identifying heirs
  • Locating missing owners
  • Obtaining signatures
  • Correcting deeds or title problems
  • Paying taxes, liens, and professional expenses
  • Hiring attorneys or title professionals
  • Managing occupants
  • Cleaning, securing, or repairing the property
  • Listing and marketing the property

Handling the work and selling through a conventional process may produce the greatest financial recovery.

It may also require substantial time, money, coordination, and patience before the property can be sold.

3

OPTION THREE

Sell to a Specialized Buyer

LandHat may be able to buy the entire property or an individual ownership interest before every problem has been solved.

Depending on the situation, you may not need to:

  • Obtain every family member’s agreement
  • Sell the entire property
  • Complete every title problem personally
  • Advance money for probate or legal work
  • Continue paying taxes or expenses indefinitely
  • Clean out belongings
  • Repair, insure, secure, or mow the property
  • Travel to the property
  • Wait for other owners to act

A direct sale may not produce the highest possible future price. In exchange, the seller receives a more immediate and defined exit.

LandHat accepts the work, cost, delay, and uncertainty attached to the property or interest it purchases.

SELLING ONLY YOUR OWNERSHIP INTEREST

You may be able to sell your share even when the other owners do not want to sell.

A voluntary sale of the entire property generally requires participation from everyone whose signature is needed. Selling an individual ownership interest is a different transaction.

The available options depend on the deed, probate history, ownership records, number of owners, liens and taxes, occupancy, and applicable state law.

LandHat can review the available information and explain what it may be willing to purchase.

THE WHOLE PROPERTY

All required ownership interests participate

or
YOUR INDIVIDUAL INTEREST

One documented interest may be transferred separately

Mathematical shareis not always the same asPresent cash value

WHY AN OWNERSHIP INTEREST MAY BE WORTH LESS THAN ITS PERCENTAGE

A partial interest is a different asset from the entire property.

A mathematical share of the entire property and the present cash value of an unresolved ownership interest are not always the same.

For example, owning one-third of a property does not necessarily mean that the interest can be sold immediately for one-third of the property’s full market value.

The buyer of a partial interest may also receive limited control over the property, other owners who may not cooperate, taxes and ongoing expenses, occupancy or access problems, probate or title work, legal and professional costs, an uncertain timeline, and the risk that the property cannot be sold as expected.

A partial interest can have meaningful value while still being a different asset from the entire property.

CONVENIENCE IS A LEGITIMATE CONSIDERATION

An owner is not required to choose the path involving the most work simply because it might produce more money eventually.

Some owners want to maximize the possible future value. Others place greater importance on:

CertaintySpeedRelief from ongoing expensesAvoiding family conflictAvoiding legal and administrative workEnding responsibility for the propertyReceiving value now instead of waiting for an uncertain result
Neither choice is automatically right or wrong.

REVIEW YOUR CHOICES

Before deciding, consider:

  • What the property may be worth
  • What must be completed before a normal sale
  • How much time and money the process may require
  • Who must cooperate
  • What risks may remain
  • How long you are willing to stay involved
  • What a clean exit is worth to you

You may ask questions, discuss an offer with your family, or consult your own attorney or adviser.

Contacting LandHat does not require you to sell.

CONTACT LANDHAT

Start With What You Know

You do not need every answer before contacting Matt.

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