1/12th Interest in Residential Home in Inglewood, Los Angeles County, California!

Description

Item Id: Kirkpatrick-Riley01
Case Name: Kirkpatrick-Riley, Timothy C & Amanda L P (aka Riley, Timothy)
Case Number: 17 62291
Trustee:
Starting Minimum Bid: $5,500

Description:
Estate’s interest in 1/12 ownership of residential home in Los Angeles, California near the Imperial Highway and San Diego Freeway (I 405). The interest is an undivided 1/12th remainder interest subject to a Life Estate. That party is now deceased. The residence is located at 5528 West 119th Street, Inglewood, CA 90304. The residence is one-story dwelling, a total of 1,310 square feet and was constructed in 1940. The lot itself is 0.15 acres. The APN# is 4140-006-008.

The legal description is-
“’a/ Improved real property commonly known 5528 W 119th St, Inglewood, CA 90304 legally described as follows: Lot 6 of Tract 11975, County of Los Angeles, as per map recorded in Book 25, Pages 1 and 2 of maps in the Office of the County Recorder of said County subject to a life estate (and)

b/Abandoned oil lease recorded with Standard Oil Company of California, a Corporation, lessee, recorded on October 24, 1966 as Instrument No. 1931
APN 4140-006-008’

Including any after-discovered assets, to the following residual beneficiaries or their children by right of representation pursuant to the Decedent’s will, as follows: Timothy Charles Riley as to a 1/12 interest”, et al.

The oil/gas lease was valid through 1987. Royalties paid during the duration of the lease are unknown.

The appraised value is $85,217. Sales of residences in the immediate vicinity of Los Angeles are approximately $500,000-$750,000

2017 taxes were approximately $1,187.97 and have been partially paid. There are no past due taxes per the County Treasurer’s office as of 3/15/18 and half of the current year taxes are still payable in the amount of $593.98.

THIS ASSET HAS A FIRM OFFER AND WILL NOT RELIST!!!

Deed (Life Estate) See Link Below-
5528 w 119th Street grant deed

Notes: A document preparation fee of $225 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).

Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on BKAssets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

Title and Escrow: A title search was NOT performed on this property. BKAssets does not provide title insurance. If title insurance is desired, the buyer is responsible for obtaining it through a title company. The title company must comply with the terms of the sale as ordered by the court. Because this is a US Bankruptcy Court ordered, as is where is sale, BKAssets is not permitted to use an escrow company, or provide any warranties or guarantee, implied or stated.

Legal Info: By Order of the United States Bankruptcy Court, BKAssets sells this and any other property “AS IS, WHERE IS”, with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property or rights, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this property/right after the sale including but not limited to: paying any fees/costs associated with this property, paying all fees/liens (if any), recording/transferring the title and gathering any paperwork/documentation necessary for that process. Seller and trustee are NOT appraisers or real estate brokers. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment or Trustee’s deed as required by Los Angeles County. All the information as to the item description has been provided by the court and County Assessor. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval.

Payment Info: $U.S. Money order, certified check, cashier’s check. BKAssets may also accept “bill pay” from Wells Fargo, Bank of America, Citibank, Chase, a local regional bank or Credit Union. If you would like to use “Bill Pay,” but do not bank at one of these establishments, please call BKAssets prior to sending payment.

A document preparation fee of $225 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.

Shipping Info: Shipping is included to all buyers in the United States. International bidders are welcome, please contact BKAssets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.

Liens: We are not aware of any liens

Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an