If I have a piece of property that was transferred to me by my parents but I cannot pay the taxes on or the maintenance fees, what am I legally responsible for?
Question Details: I have a lot that title to was transferred to me by my parents. I can't pay the taxes or the maintenance fees. I am 65 years old. I am on a fairly fixed income. I just received a letter from the HOA demanding payment of the maintenance fees and attorney fees. How can I relinquish this property and just give it back to the HOA? I cannot take care of the property in any fashion.
You can offer to give it to them, but you cannot force them to take it: no one, including an HOA, can be compelled to take or accept property against their will. You can negotiate with them, and see if they'l accept it; see if you can find any buyer for it, even if you need to sell for a discount; or stop paying, walk away from it, and let them try to sue you for any unpaid amounts if they want to--inwhich time, you may need to consider bankruptcy as an option, though if they are practical, once they realize you have little or no money, they will likely cease pursuing you or settle for a very small amount.