The True Cost of a 38-Year Free Ride...

Every month, I encounter hundreds of true stories about distressed property ownership in my work as an asset recovery specialist. Here's one that shows how creative solutions can emerge from seemingly hopeless situations:

• A historic family home left to deteriorate for 38 years

• Back taxes exceeding $113,000 with no way to pay

• One cooperative owner's escape from a family deadlock

Note: While this story is based on real events, some details have been changed to protect the privacy of the individuals involved.

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The Price of "Free" Living

Sarah never imagined her grandparents' house would become such a burden.

After her aunt qualified for a tax deferral decades ago, parts of the family enjoyed living there payment-free for 38 years:

• No mortgage.

• No property taxes.

• No accountability.

But "free" has a way of becoming very expensive.

When her aunt passed away, the tax deferral ended. Suddenly, Sarah and her co-owners faced a $113,000 tax bill on a deteriorating property. The house that had sheltered three generations now posed a serious threat to their financial futures.

"I couldn't believe it when I saw the tax statement," Sarah told me. "The numbers kept going up while the house kept falling down. We were stuck watching it happen."

A Perfect Storm of Problems

The situation seemed designed to be unsolvable:

• The property needed complete demolition after years of neglect

• Hurricane damage had further compromised the structure

• One co-owner refused to cooperate unless given double her legal share

• The flood zone location complicated any future development

Traditional solutions failed. Realtors couldn't help. Cash buyers walked away. Meanwhile, the clock was ticking toward tax foreclosure, where everyone would lose everything.

"We tried everything," Sarah explained. "But between the taxes, the condition, and the family disagreements, nobody could make it work. I felt hopeless."

The Power of Partial Solutions

When Sarah contacted Piedmont ARP, she had never heard of partial interest purchases.

None of her previous advisors - not realtors, not real estate investors, not even her own lawyers - had mentioned this option.

"I remember exactly when they explained it to me," Sarah recalls. "They said I could sell just my share, even if the other owners refused to participate. I didn't believe it at first - it seemed too good to be true."

After learning about this solution from Piedmont ARP, Sarah and two other co-owners sold their interests directly.

They received fair value for their shares and completely removed themselves from future liability. The uncooperative owner could no longer hold them hostage to unrealistic demands.

"If I hadn't found Piedmont ARP, we'd still be stuck waiting for the tax foreclosure," Sarah said. "Instead, we got to move forward with our lives."