Question on buying house for $1
In 1999 my mother inheart a house from my grandfather. I lived in it till now paying her under a land contract, It expired in sept.04.The value is about $65.000 Now she wants to sell me the house for $1.00 All taxes are paid up. And we checked the court house for any leins on it. I understand that all I have to do is draw up a deed at a notery, and go to the court house to record it. And I had to file bankrupcy [discharged]a year ago due to a injury to my back at work, witch I am on comp and social security. will the bankrupcy, be involved in this sell, due to the amount that will be free and clear in my name
Re: Question on buying house for $1
You should make sure there are no liens on the home – by getting title insurance.
Since the bankruptcy is concluded (I assume you received your discharge) your obtaining title to the home will not be affected by the bankruptcy.
Michael Carroll
Michael D. Carroll, L.L.C.
605 New Road, Second floor
Linwood, NJ 08221
Re: Question on buying house for $1
If you are discharged from bankruptcy you should be all clear. If you can you should get a warranty deed as opposed to a quitclaim.
I offer free consultations.
Mark Johns
Mark Johns, Esquire
P.O. Box 842
Horsham, PA 19044