Through a long sequence of inheritances over many decades my wife and her four siblings came to be owners of property in Ohio.  They've never been there, they have no interest or use of this, it's basically an albatross on their neck they should've dealt with 30 years ago.  Over time the taxes and HOA fees piled up and have never been paid.  Yesterday my wife gets a notice of a forced sale for the property to cover the taxes in the amount of $16,000.  If the property doesn't sell for at least that much then they're on the hook for the difference.  I guess theoretically it could even sell for $1.  I told my wife 30 years ago for them to sell the property even cheap but they didn't.  Anyway, now that's the situation she and her siblings find themselves in.

My question is what's the best way to deal with this?  The alternatives I see are either pay the $16000 to keep the property and then finally sell it ?  Or just let the state sell it and fork over $16000 - (whatever the state gets) ( five ways ) to the state?  I don't think it's particularly valuable and may be hard to sell.  Of her siblings one lives out of the US the other three are out of state.  They do keep in touch regularly except one.

Coming up with 1/5 of the $16000 isn't a big problem, I'm not happy about it but we can make it happen.

I love my wife dearly so eject is not an option

Whereabouts is the property located? Someone here might be interested in a cheap investment.

It wouldn't be impossible to figure out, but I did leave that out on purpose

@lvcipriani  Personally I'd pay the taxes & sell the property on my own.  I cant imagine that you'd lose money on it with the sellers market it is right now.

Borrow $16,000, go to the Sheriff's sale and bid $16,000 straight out of the gate.

If someone bids higher, your wife and in-laws keep the excess and don't have the hassle of trying to sell it later.  If no one bids higher, they keep ownership, don't owe the man, and can try to sell the property later.

The alternative is to let it go to auction uncovered.  They'll no longer own the property, and they may still owe money to the man (or maybe not).

I am Not an Attorney.  I do buy real estate.  My opinion, one question at a time.  I have an inactive R.E. license in Ohio.

*  I guess theoretically it could even sell for $1.
Never seen that.   Sheriff sales usually start at a fixed price.  2/3 of the drive by appraisal.

*  Or just let the state sell it and fork over $16000 - (whatever the state gets) ( five ways ) to the state?  
Right of Redemption: After the auction you will have a small window of time pay the bill and redeem the property.  A small window of time.

*  Of her siblings one lives out of the US the other three are out of state.  They do keep in touch regularly except one.
The foreclosure is about the deed, title to property.  Hard to imagine anyone coming after prior owners with a judgement but it could happen.

I could look at the property and give you an opinion.  I could make you an offer too.  
Not an attorney no legal opinions here just my experience.  From the limited info here, I am making assumptions and could be way off base.  
You're loosing the property you don't care about anyway.  
Email me a [email protected]  
Hope this helps.  

@TrolleySparks  3rd post in 11 years?  Impressive.