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 Wendell. He inherited a share of a relative’s property with unpaid taxes. A lawsuit followed. Wendell feared the worst: that the county would foreclose and sell the place. So he wanted to avoid foreclosure and get out before things went that far.
At first, the threat felt scary. After all, foreclosure sounded final. Still, he did not want a lawyer or a court fight. Then he found a way to step out early.
How Wendell helped avoid foreclosure
Wendell owned only his own portion. So he did not have to keep the property or pay the taxes. Instead, a buyer purchased his portion directly. Then the buyer took on the back taxes. After that, the buyer removed Wendell’s name from the lawsuit. Because of that, Wendell stepped out well before any foreclosure could touch him.
Even better, the process cost him nothing. Meanwhile, his relatives kept their own shares. Also, Wendell signed from home, which kept it simple.
In the end, Wendell acted in time to avoid foreclosure for himself. He owed nothing afterward. Now he carries no liability for the property, the taxes, or the lawsuit.
What this story shows:
Acting early helps you avoid foreclosure, since you only handle your own portion.
A buyer purchases your share, takes the taxes, and removes 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.
Leave a Reply