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Frequently Asked Questions
Why Did You Contact Me?
We research public records, such as county property records, delinquent tax rolls, and district court cases throughout the state of Texas. Through this research we try to identify properties that might be good candidates for our services, such as where we may bring significant value to owners in a win-win scenario. These properties typically face problems described elsewhere on this site (e.g., financial distress, heirship or title problems, tax delinquencies).
If I am an Heir Why Didn't a Lawyer or Someone Else Notify Me?
That's not always how it works. In Texas, if a person dies without a last will and testament, Texas law steps in to dictate who gets to inherit (and in what percentage), based on that person's relation to the decedent, and whether there were other relatives that may have also survived the decedent. This is known as the law of intestacy. Although Texas intestacy law may indicate how has a right to inherit; this does not mean that a deed to a property is automatically changed to the names of the heirs. This typically takes opening a probate proceeding and the appointment of an executor to issue a deed to the name of the legitimate heirs.
Also, someone may die with a will but nobody steps up to contact a lawyer to initiate a probate proceeding. (Probate is the formal process whereby a deceased person's are administered and legally transferred to the rightful heirs). Years may pass without probate or another means of identifying a deceased person's legitimate heirs and titling property into their respective names.
In other words, typically legal action must be taken in order to identify heirs and have heirship property titled in their respective names. It is not uncommon if nobody in a family steps up to take such action (e.g., an executor of an estate). This is especially the case in a distant family.
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Just because no will was probated does not mean a an heir does not have an interest in estate property. Also, just because one or more relatives may be living on the property does not mean that relative is either a legitimate heir or the sole heir to the exclusion of other heirs.
Is This a Scam?
We are 100% a legitimate company. We understand that no business can succeed without honesty and integrity, and also without providing significant value. This company was created on the theory that its founder could harness his years of legal experience to tackle title and financial distress plaguing certain properties. ​Our goal is to work with owners of properties facing distress in a win-win transaction that benefits both sides.
What Happens If I Don't Do Anything?
If no action is take to maintain the property, such as through paying a mortgage or property taxes, the property could be auctioned off to a third party at a foreclosure sale. If this occurs and you are a legitimate heir, you would lose your share of any equity in the property. If the property is not physically maintained, it could fall into costly disrepair.
How Long Does the Process Take and When Can I Get Paid?
Every transaction is unique. Typically Cherry Valley can close and fund within 24 hours after a contract is signed. Keep in mind that we may also need to get the other stakeholders and heirs on board.
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You should know that we cover all expenses to get the deal closed, such as legal fees and research costs. This can be very time consuming and expensive. We cover these expenses, invest our time and assume the associated risks to make the property marketable once again. You should also note that our cash offer will be commensurate with these expenses and risks.