Can anyone fill me in?
Questions include, who maintained the street?
Ownership is much more than a piece of paper, as it includes certain responsibilities.
Paul in PA, where I don't care who owns the street I still have a right to use same.
Paul in PA, post: 440660, member: 236 wrote: Can anyone fill me in?
It's the pearl clutchers vs. the crumb snatchers. What more do you need to know ?
"I thought they would reach out to us and invite us in as new neighbors," Cheng told The Associated Press.
same story, different spin
https://surveyorconnect.com/community/threads/gotta-pay-taxes.331557/
It's a shame they filed an injunction on the sale of the property. I'd like to see the couple sell the property to Paul Singer and then watch the fireworks 🙂
Seems the buyers were smart enough to wait past any deadline for prior owners to act before letting the sale be known.
I'm curious if the title insurance company issued the policy at regular price.
Lawyers will get rich before it's over and the buyers risk paying the legal expenses on both sides after someone finds a loophole to rescind the sale.
Bill93, post: 440735, member: 87 wrote: ..Lawyers will get rich before it's over and the buyers risk paying the legal expenses on both sides after someone finds a loophole to rescind the sale.
I'm sure other's mileage may vary, but in Oklahoma a sale for delinquent taxes are incremental and pretty much iron clad. Record owner notifications are cursory as the courts have ruled it's not actually up to the county to do anything except send you a notice to the address YOU have filed of record.
High caliber attorneys that smell money will surely flock in a feeding frenzy on this one, but something tells me the couple will come out on top in the end. If for some reason they don't retain the property they will at least have fatter pockets.
Or deed it to someone with very deep pockets for a price far above what they paid. Deep pockets and successful attorneys run in the same circles.
Bill93, post: 440735, member: 87 wrote: I'm curious if the title insurance company issued the policy at regular price.
I doubt they got or wanted any insurance.
This reminds me of the story from Florida about a subdivision that surrounded a small lake. The lake property, and a few feet of the shore, remained in the name of the developer, until he quit paying his taxes. Some dude bought it for nearly nothing at a tax sale, and proceeded to try to sell each of the adjoiners a slice of the lake for $25,000. When theyrefused he started building a wood plank fence on the property line, and then painted the owners side pink.
Paul in PA, post: 440660, member: 236 wrote: Questions include, who maintained the street?
"Paul in PA, where I don't care who owns the street I still have a right to use same."
It's a private gated community the public is not allowed in.
"Questions include, who maintained the street?"
Usually in private gated communities it??s the Homeowners Association's responsibility for ??paving and drainage? issues. If there are public utilities in the community the entity providing the service is responsible. I suspect the ??investors? will eventually sell the property back to the HOA for a 10 fold profit. 😎
This has a backstory
For 14 years the homeowner group owed taxes. I assume they keep records... money in money out with some notation of Who paid in and Where the money went.
I also assume that those 50 some people also keep records of some sort.
Where did that money go?
I wonder what the rest of the story is. Maybe there will be some more "news" on this issue.
Peter Ehlert, post: 440773, member: 60 wrote: I doubt they got or wanted any insurance.
From one of the linked stories:
??We were looking to get title insurance so it could be marketable,? Cheng said.
Then this statement, that doesn't fit what I thought was the function of title insurance companies:
"They didn??t learn that their street and sidewalks had been sold until they were contacted May 30 by a title search company working on behalf of Cheng and Lam, said Emblidge. The title search outfit wanted to know if the residents had any interest in buying back the property from the couple, the lawyer said."
The tax bills went to an Accounting firm that no longer was contracted with the homeowners. Round filed them ...
Bill93, post: 440789, member: 87 wrote: From one of the linked stories:
??We were looking to get title insurance so it could be marketable,? Cheng said.Then this statement, that doesn't fit what I thought was the function of title insurance companies:
"They didn??t learn that their street and sidewalks had been sold until they were contacted May 30 by a title search company working on behalf of Cheng and Lam, said Emblidge. The title search outfit wanted to know if the residents had any interest in buying back the property from the couple, the lawyer said."
I took that desire to get insurance to be After the tax lien sale...
I still want to know where the money went. If you don't get your power bill for a while, do you assume that it is now Free?
Warren Smith, post: 440795, member: 9900 wrote: The tax bills went to an Accounting firm that no longer was contracted with the homeowners. Round filed them ...
so 50 homeowners just ignored their $ going into a black hole, and no annual HOA reports? Something is fishy here
