Minsk Finance, its employees, subsidiaries, affiliates, associates and partner companies recognize that their Single-Family and Multi-Family divisions are involved with many individuals that have never owned a home before, and/or that do not speak English and are new to this country. At times we acquire abandoned properties under adverse possession where there may exist unknown heirs that may not be as familiar with state laws as we are. Therefore we have established the “GOLD STANDARD” – a set of guidelines Minsk Finance, its staff, affiliates, associates, employees, and executives have all agreed to operate by which are well above normal standards of operating in this sector of the real estate industry. We do so in an effort to establish to all that we put our customers and parties outside our company including unknown adverse heirs on notice that we will always seek to keep them informed, attempt to protect their interests, and always operate in a manner of respect and honor. We want our customers to make decisions that they will be happy with today, tomorrow, next week, next month, next year, and longer. Issues involving unknown heirs who have appeared in reference to adverse possession property are handled with the highest regard to assure no need for legal expense. Therefore, the following GOLD STANDARD guidelines are established:
- If it is determined that a Buyer primarily speaks Spanish, documents will automatically be drawn up in both English and Spanish (English documents are required to be signed and filed by local, State and Federal Law).
- During the first “30 days” after a buyer purchases an “as is”, “non-rehabed”, “buyer must rehab” and/or “seller did no renovations” home or property, the down payment and mortgage payments will be completely refunded up to “30 days” after purchase – no questions asked – regardless of the terms of the agreement. If such property has already been partly or competely renovated by ‘seller’ – such “30 day” refund shall apply as well, with only 1/2 of the down payment and 1/2 of any payments being refunded. The company shall not refund any expenses, renovations or work the buyer may put into or expend on the property. And all refunds require a minimum of 30 days to refund after: Buyer makes a written request to cancel, Buyer signs documents cancelling the purchase, Buyer has vacated the property and property has been inspected by seller, and providing time for seller to check title to assure no liabilities were placed on the property during buyers ownership period. (typically 30 to 60 days from initial written notice to cancel). Buyer authorizes Seller to place the property back on the market immediately after signing written notice to cancel)
- Home Buyers will have access to certain hand tools, ladders, paint sprayers, saws, and other equipment for renovating a home, RENT FREE (with just a refundable deposit) to do repairs.
- A Home Buyer, for the entire term of the mortgage note created, may trade the equity in their home for the equity in another home.
- If a Buyer has purchased a property that has not completed the adverse possession process, and unknown heirs do appear, wishing to retain the property, the Buyer may select a home of equal or greater value and of equal or greater physical condition (as of the date of moving out) from Minsk Finance, their subsidiaries, affiliates, and associates available properties with no change in price or monthly payment, and an allowance of up to $700 for moving expenses will be provided. And, the company will provide the legal counsel related to any legal proceeding.
- If it is determined that a Prospective Tenant primarily speaks Spanish, Lease / Rental Agreements and all notices will automatically be provided in both English and Spanish (English documents are required to be signed for possible filing by local, State and Federal Law).
- Tenants that feel they are being improperly treated by the local Property Manager may contact the Property Manager’s superior by calling a local number that is posted inside the Management Office.
- Tenants that feel the property is not being properly maintained may contact the Property Manager’s superior by calling a local number that is posted inside the Management Office.
- To ensure there is never an issue about receipt of funds, no cash is accepted. All payments must be made by money order or cashier check. If a Property Manager accepts cash, or accepts a money order that has not been filled out payable to the name of the apartments / property – and can prove this by receipt – that tenant can call the Property Manager’s Superior, and will receive $100.00 IN CASH.
HEIRS OF ADVERSE POSSESSION PROPERTIES
- If an heir of a property, that was taken under adverse possession appears, all that heir needs to do is provide evidence of ownership (by Court Order, Proper Deed to Heir, etc.) and immediately your interest will be recognized without any need for legal assistance (although obtaining legal assistance is certainly allowed and recommended).
Upon identification of proper title to adverse property by anyone, an offer to purchase the interest in the property will be made within 5 days. If the offer is not accepted, and:(a) The property is vacant – all required documents to relinquish any title will be provided within 10 days.(b) The property is occupied by lease, contract for deed or deed/deed of trust – the party in the propertywill be required to move within 15 days (unless the heir agrees to a short term