Frequently Asked Questions
What is dormant property and how did it get that way?
Properties become "dormant" when they have been inactive over a long period of time due to title issues or other challenges. Confusion about the title to a property often arises after the death of an owner without the rightful heirs to the property being aware of their interests. These rightful owners may have moved, married, changed names, or otherwise lost contact with the individuals from whom their interests are derived. GSI is expert at putting the pieces of the puzzle back together, correcting any flaws in the title, and restoring value to the rightful heirs.
How did GSI find me?
GSI's researchers utilize all available public records in order to locate a property's living heirs including on-line databases, street indices, probate court records, vital statistics records, newspaper notices, and assessment records.
How long will it take to realize the value of the property?
Due to the extensive research and legal work required to establish clear title to a property, each recovery generally takes two to four years. During this period, GSI may also address engineering issues, access issues and/or permitting issues in order to realize the full value of the property.
Am I responsible for paying any fees or expenses?
No. GSI assumes all responsibility for the costs of recovering the dormant property including financing the up-front costs of title work, genealogical research, legal fees, engineering and surveying activities, abutter agreements, permitting processes and/or development expenses. If GSI is unsuccessful in securing the title and selling the property, its clients and partners owe nothing to GSI.
At what point will I learn the exact details of the property?
GSI discloses the details of the property when an agreement is reached to work together to unlock the value of the dormant parcel. This policy protects GSI's considerable investment in identifying and researching the dormant property as well as the interests of other clients and joint venture partners.
How is GSI compensated?
GSI assumes all responsibility for the costs of recovering the dormant property, and GSI is only compensated when the property is sold. GSI's compensation is typically based on a percentage of the net value realized and reflects the risks inherent in investing in an uncertain recovery and the comprehensive nature of the firm's expert services.