Legal Question in Real Estate Law in Louisiana
My grand-parents opened up an acre of land to my father so he could build a home on it. He died in 2004, and the home immediately went into forclosure. The land is still owned by my grand-parents who have since been renting the house out for a small income. My grandmother wants to give the home to my wife and I to rennovate and live in. (It's in almost unlivable conditon.) We would love to fix the house and move into it, but we are worried all of our work would go to the bank when my grandmother dies. (She is 89 years old.) If she donates the land to us and it becomes ours when she passes, does the bank still get the home and land and we get kicked out? Should we simply leave the house as is and let them have it because it's not worth the hassle? Thank you in advance for your time.
1 Answer from Attorneys
When a home is built then the property on which it is built will attach. The question is whether the land attaches to the house of whether house attaches to the land. It is possible that this is why the foreclosure hasn't ever been completed. You should contact the bank and a real estate attorney. Title has to be established or you will just inherit/have donated a mess.
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