Lawyers, or legaly-smart folks-need input please?

Kugzilla

Roar. Go: Eagles, Flyers, Philles, Buckeyes, etc.
Oct 7, 2005
9,850
378
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Northern Virginia
#1
I'm working on a project, and have run up against a question that I feel like I should know the answer to, but before I go forward, would welcome any input:

So, assuming the following:

Only Child Joe Shlobatnik inherited a good deal of real estate from his parents.

He liquitated all of it, and built a home, and lived off the substantial cash for the rest of his life.

He has No family. None what so ever.
He has no will.

He dies.

What happens to his stuff?

Any help would be appreciated.
 
Feb 3, 2006
826
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Pennsylvania
#2
Depends on the state as each state has different means of distributing property. According to your statement it seems like he only has a house left unless there is money in the bank or somewhere else.

If there is money in the bank and it goes unclaimed, eventually it will get turn over to the state and after a while the state will claim the unclaimed property.

As to the house , if there is a mortgage and it goes unpaid the bank will eventually get it. If taxes go unpaid it will go in a tax sale. Any money recieved from any type of sale since there is noone to reciieve it would go into the states unclaimed property fund and eventually belong to the state.

That's how I would answer it.
 

Sct Ptersns Twn

Looking 4 a New 1st Mate
Dec 4, 2005
7,617
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Gloucestershire
#3
The lawyers will get some appetizers and the Government will feast on that shit.

I would hope there is a stipulation that gives all that is left to Marge and the Cat-ery.
 

d0uche_n0zzle

**Negative_Creep**
Sep 15, 2004
46,650
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F.U.B.A.R
#4
A surrogate in probate court will drain the estate before anyone else can. :action-sm
 

THE FEZ MAN

as a matter of fact i dont have 5$
Aug 23, 2002
41,338
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768
#5
money goes to the state, to be pissed away
 
Jan 6, 2006
9,655
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#6
As everyone said, State, Gov't, or Bank takes it and sells it off to the highest bidder.
 

LiddyRules

I'm Gonna Be The Bestest Pilot In The Whole Galaxy
Jun 1, 2005
141,079
49,632
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#7
Goes to the state unless there's some long-lost relative but generally the states have their own laws as to how far back into your family history that relative "exists." (Some go with grandparent descendants only, some go with great-grand parent descendants only.) But if there is nothing, the state takes it.
 

CougarHunter

Lying causes cat piss smell.
Mar 2, 2006
10,532
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KC Metro
#10
A gay lover will come forward and claim it under domestic partnership. He was closeted you see, but we had a secret love for the last years of his life...