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Saturday, September 13, 2014

Fairhope "Zombie" House To Be Condemned

the Fairhope, Alabama

FORECLOSURE/OWNERSHIP DISPUTE

The city is in the process of condemning a run-down house at 10 S. Ingleside St. that has been vacant for some time; but is tied up in an ownership dispute between banks and the (former?) owner, a local insurance agent.

Neighbors have been complaining about its unkempt appearance.

According city building officials, the property was in foreclosure; but the bank has decided not to proceed -- throwing it into an uncommon situation sometimes called "zombie title-ship", where the mortgage-holder (bank, finance co.) walks away when continuing the legal process is deemed not in its financial interests.

USA Today report says the homeowner has no legal rights to the property in such cases; but since the title stays in their name -- they have all the liability for what happens and may still have to pay mortgage payments as well.

Municipalities often have to come in to cleanup the mess, it says.

BUILT IN 1948

The 2,500 sq. ft., 3 bedroom, 2 bath house constructed in 1948 is within the Single Tax Colony.

2013 property taxes of $1,580, some apparently in arrears, were paid by the homeowner.

(Because of the ongoing litigation, the Times decided not to identify the homeowner or well-known national bank/mortgage companies involved; but that information is a public record: readily available from Baldwin County's website.)


MAY BE DEMOLISHED

After the condemnation works its way through the courts, the city is expected to go ahead and demolish the property at its expense -- and seek compensation by putting a lien on the title.



10 Ingleside Dr.

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