What happens with investment property that Trustee abandons?

[Ditos]

We have Fl investment property. DJS had active foreclosures on them but has since abandoned their files and will close their doors April 1st. No new foreclosure mill has been assigned the cases. Are we still responsible for HOA & taxes until they foreclose? How can we quickly get these out of our names - could we quit claim deed them to the HOA now or wait until our case closes? We don't want any further liability with them still in our name.

[tcreegan]

Hi ditos,

You owe taxes and HOA that are after your BK filing, but not before. And either way, if you are letting the properties go don't pay the taxes, these will attach to the property not you.

Lots of people here have been fretting about the time it takes to foreclose property and get your name off the title/deed, sometimes years.

And lots of people here complain about massive HOA collection attempts.

But you get the prize for putting them together!!

My guess is the HOA would be happy for you to quitclaim it to them, not sure if you can get it to fly past the lender though.

Good luck with it,

Tom in Colo

[Ditos]

Just got a response from our BK atty who said we could quit claim over to the HOA. HOA will take them back. I don't want to ask the pretender lender's permission to do it.

[tcreegan]

Go for it Ditos!

Let us know how it turns out in the end....?

Tom in Colo