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 Derek. A relative left him shares in not one but several properties. Each one carried unpaid taxes. Worse, more than one ended up in a lawsuit. So Derek suddenly juggled multiple inherited properties he never wanted.
At first, the sheer number overwhelmed him. After all, one property is hard enough. Still, he did not want a lawyer or a court fight on each one. Then he found a simpler approach.
How Derek handled multiple inherited properties
Derek owned only his own portion of each property. So he did not have to keep or manage any of them. Instead, a buyer purchased his portions directly. Then the buyer took on the back taxes. After that, the buyer removed Derek’s name from the lawsuits. Also, a buyer experienced with these cases handled each one together.
Even better, the process cost him nothing. Meanwhile, his relatives kept their own shares. Because of that, Derek cleared several headaches at once.
In the end, Derek let go of the multiple inherited properties for good. He owed nothing afterward. Now he carries no liability for the properties, the taxes, or the lawsuits.
What this story shows:
Even with multiple inherited properties, you only handle your own portion of each.
A buyer can take several shares at once, cover the taxes, and remove your name, at no cost to you.
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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