Note: BCP Real Estate is not a law firm and its employees/owners are not acting as your attorneys. This is provided for educational purposes only and is not legal advice. The following is an illustrative, composite example, not a real client, and any names are fictional. It does not describe or promise any particular outcome.
Meet a man we’ll call Roy. He inherited a small share of a vacant lot hours from where he lives. He has no use for it. He has never even seen it. Yet the back taxes went unpaid, and now a tax lawsuit names him. So Roy feels stuck with an inherited vacant lot he never wanted.
At first, he is not sure what to do. After all, the lot sits empty and far away. But Roy soon learns that distance and emptiness do not trap him.
How Roy let go of the inherited vacant lot
Roy owns only his portion of the lot. So he does not have to visit it or maintain it. Instead, a buyer takes over his portion and removes his name from the lawsuit. Also, the buyer handles the back taxes. Because of that, the empty lot stops being his problem.
In the end, Roy let go of the inherited vacant lot for good. He paid nothing out of pocket. Now he carries no liability for the land, the taxes, or the suit.
What this story shows:
An inherited vacant lot you never use can still put your name on a tax lawsuit.
You can sell your portion without visiting or maintaining the land, and your name comes off.
If you want to be bought out of the lawsuit and have your name removed, no cost to you, call or text us at (469) 708-8003 today.
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