11 - Private Re-Sale of a Tract of Tax Foreclosed Property - Westgate Apartments

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WESTGATE APARTMENTS TIMELINE • Suit filed April 27, 2018 • AT ISSUE: City of Paris was owed $22,833.53 in delinquent ad valorem taxes for tax years 2013-17, and $13,786.57 in nuisance abatement costs. • April — December, 2018: numerous failed attempts to locate and serve owner Property Partners I, LLC and principal lienholder J Frost Investments LLC — both are single owner LLCs — eventually my title abstractor determined that the owners (who were also the registered agents for the LLCs) were dead and service of citation would need to be handled differently • Jan. — March, 2019: Service of Citation was attempted on Property Partners I, LLC and J Frost Investments LLC through the Texas Secretary of State — returns were received dated March 12, 2019 and filed with the Court • Jan. 10, 2019 — first defendant, J L Brault Family Trust, a judgment lienholder, was served citation — they filed an answer on February 5, 2019 • Jan. — May, 2019: numerous unsuccessful attempts to serve the other judgment lienholders, Barbara Ramp, Donald Ramp, and their LLCs: Game Set Match LLC and Bear Facts Investments LLC — turns out the Ramps were in bad health and living in their Florida home during this period - in April, service was finally secured and we started to work with their lawyer. The Ramps and their LLCs filed a counter -claim as part of their answer on May 14, 2019. • A final hearing on the case was set for July 11, 2019 • The July 11, 2019 trial hearing was postponed by agreement of the parties until October 17, 2019. • June -October, 2019: negotiations with the Breault Family Trust and the Ramps over their counter -claims were initially unsuccessful, but eventually all of the judgment lienholders agreed to withdraw their counter -claims and to join in an agreed judgment. • October 14, 2019 — Court signs the Agreed Judgment — City of Paris was awarded $29,986.51 for delinquent taxes (2013-18), $15,560.30 for nuisance abatement costs, and $4,112.06 in supplemental legal fees relating to the nuisance abatement costs — total judgment is $168,375.30 — adjudged value is $486,830.00 - not final until expiration of 30 days. • November 19, 2019 — District Clerk issues requested Order of Sale — sale is set for January 7, 2020 • January 7, 2020 — Tax Sale — legal minimum bid of $170,500 — no buyers — property was bid -off to the City of Paris as trustee for itself, Paris Junior College, Lamar County and Paris ISD • January — May, 2020 — Carla Easton and I actively market the property — although several potential buyers came forward, none submitted a written offer of $75,000.00 or more • May 10, 2020 — received offer to purchase the property for $75,000.00 from Rain Financial Services, Inc.