Title Concerns—When To Pass When To Proceed

In today’s episode of The Art of Passive Income—Round Table edition, Mark is joined by:

• Aaron Williams
• Mimi Schmidt
• Erik Peterson
• Jeannie Morem
• Tate Litchfield
• Scott Todd

Live from the Official Facebook Group, the gang starts this week off by sharing what they did on Labor Day… do you celebrate it the same if you don’t have a job you have to report to?

TOPICS OF THE DAY

PROBATE—When the party or parties on the deed are deceased and there is no executor of the will assigned to transfer the property somewhere else. It has to go through a lengthy process of legalities to clean the title.

TREASURER'S DEED—A deed issued in a tax deed sale, so that the buyer is buying the property from the county. It’s no different than a quit claim deed. Selling can be a challenge though if the buyer wants to build right away because title insurance can’t be issued until the title is cleared and that can take several years depending on the state.

Listen in as the panel goes deep into the details of both situations, the time and costs involved in each, when you should consider buying, and when not to.

Plus, Mimi and Scott both share recent probate deals they proceeded on.

TIP OF THE WEEK

Erik: Start by doing what's necessary; then do what's possible, and suddenly you are doing the impossible. -Francis of Assisi.

Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?