Legal Question in Real Estate Law in Indiana
Tenants rights to trade property after a tax sale
The property that my business was located at was sold in a tax sale. Although I was aware that the owner had died recently, I thought that the estate would contact me regarding any change of ownership. The entity that bought the kproperty at auction came in while I was on the premises and claimed possession of all the trade equipment on the property. Is there any basis for this stance. The deceased owner did not own one piece of equipment as I had to totally rehad the building prior to use since the building was a gutted shell. I am not certain I fully understand the nuances of this so that I can be certain that I can be certain that I can obtain the best attorney to get my property back. I do have all receipts and a lease that had just expired and was renewable at my option.
2 Answers from Attorneys
Re: Tenants rights to trade property after a tax sale
Your biggest problem in proving what belongs to you as compared to what belongs to the new owner concerns fixtures. Moveable (as opposed to fixtures) are clearly yours. Fixtures may be a different question, based on what your lease says or doesn't say about whether fixtures remain with the propety. If you knew the owner died, then it was as much up to you to contact the personal represntative of the estate (as it was for him to be in contact) to continue to pay your rent and/or otherwise protect your rights. Usually in such situations the property is sold on a tax sale because whoever inherited was unaware of the existence of the property.
Re: Tenants rights to trade property after a tax sale
You are entitled to all your trade fixtures, inventory, etc. It sounds like these "new owners" are hoping for a windfall at your expense. If they acquired the property at a tax sale, then they may not have perfected their title. The former owner - in this case the estate of the former owner - has a fairly lengthy time to redeem the property after a tax sale. I suggest you promptly contact the family of the former owner so they can get the matter straightened out. Maybe they will assign their rights to you.
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