| ▲ | guywithahat a day ago | |
You would have to be notified of any deed restrictions, especially one where they don't own the land the house sits on. The situation you described seems hard to believe | ||
| ▲ | stockresearcher a day ago | parent [-] | |
Ah, according to Wikipedia they were sale/leaseback agreements [1] But I lived in that area. People absolutely were scammed because FedGov didn’t bother to evict heirs or tear down the houses for decades. And then they did. Indiana is a very lax state for real estate transactions. Attorneys are not required and real estate agents drive the process. A shady agent and a buyer that doesn’t know any better can very easily get scammed. This quote glosses over a LOT, but I couldn’t find anything better online: > there was a movement to purchase all the homes in Beverly Shores and incorporate the entire town into the National Lakeshore. This initiative did not succeed, but many local properties were acquired, especially those in the wetlands that constitute the southern portion. The acquisition process is ongoing. The owners of lots fronting on the beach were granted lifetime leasebacks with the proviso that the property would revert to the National Lakeshore; many of these houses have since been demolished. | ||