Selling dead people’s houses can be a lucrative business for probate administrators, lawyers, real estate agents and flippers in Southern Nevada. But often the heirs get nothing.
by jms1225
Selling dead people’s houses can be a lucrative business for probate administrators, lawyers, real estate agents and flippers in Southern Nevada. But often the heirs get nothing.
by jms1225
3 comments
If you want to avoid Probate you MUST have a written Will in the State of Texas. Yes, if you do NOT leave specific instructions on what to do, in Texas it goes to the next “head of household” and its a bizarre setup, kinda like the Monarchy. It goes to the old son or daughter first if the spouse is dead. Expect the greedy lawyers to get a cut.
**“It’s a service to the community,” Sauerland said. “It’s not just, ‘Everybody’s running around making money.’”**
Two prolific private administrators — Moore, founder of Estate Administration Services, and his probate successor, real estate agent Cynthia “Cyndi” Sauerland of Compass Realty & Management — were involved with at least 500 probate cases combined in Clark County over the last several years.
In nearly 400 of those cases, they initially stated they couldn’t identify or communicate with heirs. They also obtained court authority more than 460 times to sell homes through a process that doesn’t require court approval of the deal or competitive bidding that could boost the sales price, an analysis of District Court records dating to 2016 shows.
Moreover, the duo frequently sold homes at steep discounts to estimated values — often to the same circle of investors who resold the properties within months.
Their three biggest buyers flipped more than 130 homes for $13.4 million above the combined purchase price, the newspaper’s nine-month investigation found.
That’s how the system is designed. Harvest any and all assets from the middle class to keep their children wage slaves while protecting the wealth of the elites in trusts, foundations and LLC’s.