PETITO · Curative Investor

PETITO

A JV deal I am currently working on. I made contact and felt like it was a good conversation. For the operators here what would be the biggest red flag for you here? Here for inputs and insights! Thank you.

🏠 PROPERTY

Asset Class: Duplex (multi-family residential)
Address: [Florida]
AS-IS Value: Not confirmed — one unit had a confirmed structure fire at the rear of the property; condition likely impacted
Property taxes are current, no delinquency

💰 EQUITY

No mortgages or liens mentioned
Property appears free and clear of financial encumbrances
Life Tenant manages the property, collects rent, uses proceeds to cover expenses and support an elderly sibling
No documented paperwork on the deceased co-owner's estate interest — his share is informally acknowledged but legally unresolved

📋 TITLE

Current vesting (per county appraiser):
[Uncle] – Life Tenant
[Uncle's Wife] – Life Tenant
[Daughter 1], [Daughter 2], [Daughter 3] – Remaindermen (Life Tenants' children)
[Deceased Father's Estate] – Listed on title; estate interest unresolved
Life Estate deed executed approximately 7 years after the co-owner's passing
No probate or estate documentation has been filed for the deceased co-owner's interest

👥 INTERESTED PARTIES

[Uncle] (Life Tenant, ~88 yrs old) – Out-of-state; current property manager; not motivated to act
[Uncle's Wife] (Life Tenant) – Listed on title
[3 Daughters] – Remaindermen; will inherit the uncle's half upon life tenants' passing
[Contact / Son 1] – Out-of-state; open to selling; believes he and his brother are owed 50% through their late father's estate
[Son 2 / Brother] – Out-of-state; more involved and detail-oriented; takes care of their incapacitated mother; previously pushed for a trust — key decision-maker
[Mother] – In a nursing home; under plenary guardianship of her sons; mentally incapacitated; her interest (if any) is legally frozen

⚠️ THREATS

No estate paperwork filed for the deceased co-owner — son's interest has never been formally transferred, creating a cloud on title
Mother's guardianship adds legal complexity; any action on her behalf requires court approval
Uncle is unresponsive and unmotivated — dismisses urgency despite advanced age; no timeline to act
Fire damage to one unit — unknown extent of structural damage; may complicate sale or valuation
No family agreement in writing — contact acknowledged family disputes does not usually arise, but hinted maybe if "unless about money"
As it is a life estate on file this could be the main reason the deal may die unless executed fraudulently

🎯 OPPORTUNITY

Originally owned by decedent's father and the uncle. Conversation was to have 50% of the decedent's shares to transfer to direct next of kin while the other 50% to the uncles 3 daughters.
Both sons want to sell and allocate proceeds toward their mother's care expenses
Family is emotionally aligned but legally unprepared — education is the entry point.
Contact is open to looping in his brother for a follow-up call
Son 2 (the brother) is the decision-maker — getting him on a call is the next key move
Son motions that they have brought up several times in the past about estate documentation and possibly liquidating to their uncle and made known it's time to have another conversation.
If discourse is there it could be an opportunity to help decedent's heirs to force sale.
Fractional interest sale is also a viable angle if full family alignment takes time
Property is free and clear — high equity leverage once title is cleared