PUBLIC GUARDIAN AND TRUSTEE = Estate?

[johnkim]

Hello,

I recently ran a land title search on a registered lot (not listed for sale) that I`m interested in and found out that the property was transferred from PUBLIC GUARDIAN AND TRUSTEE to Four people in 2006.

Tenant in Commons:
Person A - C has 33% ownership (I assume they are children based on birth year and names)
Person D has 7% ownership (late-wife)


Can I reasonably assume that the original owner (father) passed away some years ago and the PUBLIC GUARDIAN AND TRUSTEE transferred the title to the heirs and late-wife?

Does anyone have experience purchasing non-listed properties from heirs? Unlike a house, a piece of vacant lot might not be much (perceived) value to the heirs of the deceased. What do you think?

 

[housingrental]

Yes
My experience most have $$ in their eyes above market value and need to be brought back down to earth.
If you encounter same do what you can to present a case for the valuation you seek from comparable sales and appropriate adjustments to reflect their property...
Of course maybe you get lucky and there happy to get out at MPAC valuation...