Legal/Tax Question

[Clandestino]

I am talking to a lawyer on Friday, but am curious as to what some other people think will happen.

3 people owned a business and some surrounding property. After 2 owners died, the current owner still paid property taxes on ALL the property. (he thought it was his and the tax office did too)

However, a recent title check has found that the surrounding property(not where the business is located) was only owned by one of the deceased owners and he deeded it to his children (there are 5) in 1994.

so, who has the legal right to the property? no one has claimed it was theirs or done anything to the property. also, what about the taxes paid for property not legally theirs???

sticky situation...

[ObiwanGinobili]

I've heard of a simliar situation and as far as i know it'w whomever paid the taxes on the property for either the past 5 or 7 years.
But i'm not a tax lawyer so dont; quote me.

[Clandestino]

yeah, my accountant told me about that 7 years thing. he wasn't totally sure, so he referred me to a lawyer. i hope it is still that way, bc he says he wasn't sure if the law had changed or not...

[diceman]

If the form of multi-person ownership was joint tenancy, they could not by law deed the title to their heirs. The ownership would remain with the surviving joint tenants until until the last owner becomes the sole owner. If it was a tenants in common ownership, they could deed the title by will or it would pass to their heirs. The last owner might be able to claim the surrounding land by adverse possession. There are a lot of contigencies on adverse possession. If they paid taxes on it for 5 years that is one of the requirements but you are correct in talking to a attorney. Especially, one versed in real estate law.

[Clandestino]

yeah, i just can't wait for friday! i hope we get the land...

if we don't get the land, who should repay us for the property taxes we paid on the land for the past 10-11 years? the tax office for mistakenly sending us the bill or the 5 owners of the land?

[Vashner]

Whoever's name is on the deed owns it... period.

I have seen a few cases where people just think they can split ownership and or buy some property without a proper deed being filed.

Good luck on it.

[Clandestino]

Whoever's name is on the deed owns it... period.

I have seen a few cases where people just think they can split ownership and or buy some property without a proper deed being filed.

Good luck on it.

if that is the case the 5 owners(distant relatives) should pay us back for the taxes we paid on it... i don't think any of them have any money so i will get them to sign the land over or come up with the taxes from 1994-present.

hopefully, the lawyer will just figure out a way to make it our property.

[The sone]

if you buy a prop and there is unpaid tax on it you have to pay it. bottom line is paying taxes does not mean the prop is yours. whoever it is deeded to owns it. his only hope is to ask for the money back, but he isnt entitled to it, or sue them for it. (he wont get it if they dont want to pay) i know it sucks but thats the law.

[Clandestino]

so far, the adverse possession stuff i have read on the net prove promising...

[TDMVPDPOY]

u want the truth, u cant handle the truth, okay this is base on aussie tax law from what i learned, is that a partnership venture first?? if it is when the 2 partners deseased then the partnership no longer exists.

As for the property, depending on teh circumstances if it was bought under the partnerships name then it has to be equally divided, but if its from the funds of one of the owners then its theres, they only recoup the capital back what they contributed.

The livin partner has to settle this with the trustee about the proceeds and legal ownership of the property, but the livin partner can sue the trustee to pay for the expenses that has incurred on their behalf when payin taxes already ascertain.

IMO that property does not belong to the trustees estate, it belong to the previous partnership and it should be split among the partners when it sieze to exists.

[FromWayDowntown]

I haven't looked at the Texas adverse possession statute recently (well, really, not ever), but I learned that adverse possession affords an interest in the land only where possession is open and obvious, is adverse to a greater ownership interest, and most importantly, where it lasts for at least 20 years without any eviction efforts by the true owner. I can't say that for certain, and you're absolutely right to talk to an attorney who might be able to find a stronger argument than even adverse possession.

[Useruser666]

Hey Clan, I want my land back! :lol