Legal Question in Real Estate Law in Texas
RELEVANT BACKGROUND INFO: My question is probably very unusual. I imagine most questions about abandoning real estate involve people with loans. I own two lake area lots (interior, no lake front or view) in rural Texas. I own them outright with no liens...yet.
These lots are so abundant that their value is very, very minimal. Say, probably under $2,000 each. The lots were in a subdivision with monthly association dues of about $26 which I was initially paying. However, I found out later about monthly mandatory golf dues that I was supposed to be paying. The owner and manager of the golf course now has me past due (with penalties added) at over $5,000 on one lot alone, plus $3,500 on the other. At some point, I just stopped paying everything since there is no real market for these. I can barely give them away.
Unfortunately, rather than someone coming after them, like a tax entity, the golf club, or the association, everyone is simply tacking on monthly dues and late fees every month and letting me keep them. I think they know these properties are worthless and don't want them either. I guess they figure as long as I have them, they can just keep adding to my bill and maybe get something out of me.
MY QUESTION: Is there a way to abandon property and walk away when there is nobody on the other side wanting them? I was thinking of doing a QUIT CLAIM deed, but every form seems to want a GRANTEE, and there isn't one. In the most purest meaning of the word, I truly need to ABANDON these. I know I will still be responsible for debts thus far, but I need to stop any further additions to the bill.
1 Answer from Attorneys
There is really no formal way to abandon the lots. Contact the club and see if they will take a deed in lieu of foreclosure. In the meantime, you can do nothing and they can foreclose or try and sell the lots on ebay! Quit Claim Deeds are not recognized to provide an insurable estate in Texas - we don't use them here. Also, in order for a deed to be valid, you must have a willing Grantee.