Expert: Dick Dennis - 7/13/2007

Question
Dick,

My deceased step-father purchased an empty lot in a development 20 years ago.  The lot is virtually worthless, as the development has almost folded.

His contract states that his heirs (my mother, his wife of 40 years) are responsible for the monthly association fees, and when she dies, her heirs, ad infinitum.

My mother's name is on the deed.  However, only my step-father signed the purchase agreement.  Can we quit claim the deed away, and get this worthless property out of her and our lives?  How can we dispose of this lot?  The local realtors won't even take the listing, since none of these parcels are selling.

thank you,

Ed in akron, oh

Answer
That's a bunch of baloney, Ed. Only the person who actually purchased the property and signed the contract is/was responsible. You need not worry about ruining your mother's credit or anything like that. Just let them repossess the property. I guarantee you, based on what you have said, that about half (if not more) of the development has been repossessed since it has virtually no value. Talk to any real estate attorney and he/she will also tell you that succeeding heirs ARE NOT responsible for that land. I do wish you well.

Dick Dennis