Legal Question in Real Estate Law in Indiana
Who legally owns these lots
If I once had a building company that was Incorporated, sold 2 homes and with the proceeds of the profits bought 2 building lots, turned around and dissolved the corporation and titled the lots to a relative who pays the taxes on them, who name the lots are in. Can I ever sue for the lots back even though I gave the lots to this relative for no money. I just gave her a good Deed with her name the lots.
1 Answer from Attorneys
Re: Who legally owns these lots
The property will be titled in the name of the third person unless there was some fatal flaw in the title of the deed-giver. Anyone who dissolves a corporation then contrives to deed the corporation's real estate to a third person will have small prospect for success trying to make the third person give it back, especially if the third person has been paying the current property taxes. I suggest you take all available paperwork to a local attorney who is experienced in property law. Ask your local bar association for a referral if you do not know an attorney.
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