What Makes a Market Mail-able (LA 967)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Good day.
Steven Butala: Welcome to the Land Academy Show. Entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: And I'm Jill DeWit broadcasting from sunny southern California.
Steven Butala: Today Jill and I talk about what makes a market mailable. This is a very popular question.
Jill DeWit: Makes marker mailable, that's a lot. Sorry.
Steven Butala: Oh I didn't notice that.
Jill DeWit: Yeah, makes marker mailable. Alright.
Steven Butala: Before we get into it let's take a question posted by one of our members on the landinvestors.com, online community is free.
Jill DeWit: Okay. This is from a Mike M, but not the Mike M that we talked to yesterday, just to point that out. So a different Mike M. He wrote 'hi all, has anyone taken a property through probate in Arizona? The first property I ever brought a while ago without a title, I am now trying to sell through title. One problem, the wife and the husband are on the title not as JTROS, which is joint tenants with rights of survivorship. And the husband is now deceased. The title companies require this to go through probate to get him off the title. I'm looking for some advice on the quickest way to get this done. $11,000 is at stake on this too. Anyone have experience with this in Arizona? Thanks, bye'.
Steven Butala: Yes Joe and I have tremendous amount of experience in Arizona, and specifically with this, I'm gonna direct you to an attorney named Mark Manoil, M-A-N-O-I-L. He's an expert at this stuff, he's the tax lien expert in Arizona and tax lien's are pretty prevalent. Every tax lien jurisdiction's from a state standpoint has different opinion on how to go about this situation, and it's a very, very popular situation in California. You get a death certificate, you file a piece of paper, and affidavit, and you send it in to the county recorder and you are done. It's very easy to undo this in California. Arizona, totally different situation, in fact the truth is we have stacks of situations on our database like this that we have chosen not to pursue for this exact reason.
Steven Butala: There's two ways to approach this. You can go through an adverse possession situation if you have a good relationship with the surviving wife. Or is it the-
Jill DeWit: I remember a guy.
Steven Butala: ... the survivor.
Jill DeWit: I think so.
Steven Butala: Or you can go through this probate situation. Both are going to cost you ... in excess of a thousand dollars, one may or may not be a little bit more expensive. For $11,000 it's worth it. But I'll tell you that the vast majority of people who have gone through this and who are smart, make this their business model. They go through this adverse possession slash in the situation of maybe probate. First of all don't listen to title agent. Their knowledge of this is not, they're not a lawyer. A title agent has been instructed by their supervisor to close 30 deals a month, or some number like that. This is good news for them 'cause they don't have to close this deal, they can go onto the next one and hit their number. So while they're not incorrect, they're certainly not the-
Jill DeWit: Authority on everything.
Steven Butala: Exactly Jill.
Jill DeWit: I have a lot of experience on that one.
Steven Butala: Try contact Mark Manoil, I think he's a state treasurer now, or some version of that. Actually I think he really is the state treasurer now.