LOL. Was wondering how long it would take you to chime in.

Assume a person passes away and the Villages forecloses on the property over amenity fees/maintenance fees; what happens to the equity that the property has?

One would assume it goes to the estate, but a lawyer will know for sure

Perhaps if the heirs can't be located the equity eventually goes to the State of Florida to sit in the "waiting to be claimed" fund with the other billion dollars.
That's money that will sit for years that the heirs will never think to look for. Free money for Florida.
Why not check the sites below to see if you have some money coming? Lots of refunds, utility deposits, insurance payments, etc.

Let's say there are 100 homes in foreclosure.

Using a rough estimate of 51,435 home in TV, that says .19% of the total amount of the homes, are in foreclosure.

I tend to think the majority of these homes are owned by people who have gotten sick and their heirs don't want to be bothered, as opposed to faulty lending practices.

On the other hand, I know a couple of people who have purchased homes beyond their means but I hope they can make the required payments.

I'm sure this happens all over the US but the developer surely will remedy this problem, If I remember correctly, didn't the developer buy 80 homes on the historic side and rebuild them?

BTW - I'm sure those homes were not in foreclosure but the developer saw it as being upgraded. Then again, I have no doubts that someone will correct me.

The other news provider did say that the normal forecloser can take several years and homes without mortgages can be just as bad. Do the banks make any effort to keep up the property while they try to take it over?

Maybe add to the list:
Circle Monitor: Making sure everyone is going around the circles the correct way.
Bar Monitor: Check how much everyone is drinking. Maybe even drive the drunks home.

Back On Topic....
We have a foreclosure 2 doors down. His wife left him a few years ago and he just moved & left the house to the bank. I think he owed more than it was worth when prices went down. It's a mess in the yard & weeds all in the driveway. They finally had someone come and do a better job, but it still looks awful. Definitely an eyesore !

I volunteer as circle monitor...loudly feweeeeting my coyote whistle to keep the speed up...

Foreclosed properties
 

We live in a nice neighborhood. There is one house that has been abandoned for at least ten years. It is covered in mildew and vines. Repeated calls to Community Standards has brought a crew that mows the weeds. We can only hope that the Villages can step in and do something. Please.

Problem starts when purchaser buys the home with a mortgage that they won't live to pay off, (Germany won't allow anyone older then 70 to get a mortgage); there may not be any heirs; House paid for, no heirs to inherit so no one cares.

Bob Massi the Property Man on Fox News Channel Saturday and Sunday afternoons mostly talks about Las Vegas Property, but talked about this problem when he went to FL. Seems wide spread.

Nothing can be done if no people are there to own the property.

What was always the saying: have your last check written to the IRS and have it bounce

Sounds like a good idea to me!!

Actually, the county and school taxing authorities as well as the electric company and TV CDD utilities all care. Deed compliance will care when neighbors complain. And although I hate to mention it, but if the owner is very elderly, extremely reclusive and not seen by neighbors often, well....you get the scenario.

Another left off of the list: Judging whether others opinion's are trivial and unworthy.

Yes, but it doesn't happen much out and about in TV. Seems to be a sport restricted to TOTV:1rotfl:

I am only posting because Gracie started the thread.