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Real Estate Transactions and Estates
I have seen many situations where a real estate contract is signed and then we soon discover that the person who signed the contract to sell the real estate is not the same person who is listed in public records as holding title. Once we begin asking questions, we soon find out that the title holder has passed away and this person was a spouse, child, or executor who signed the contract.
Where do we go from there? Well, let me answer that with the most stereotypical lawyer answer: it depends. Although a stereotype, this answer apples to this situation incredibly well because there are many factors that will play into the process of closing on that contract. For example, here are a few questions we would ask the seller:
- Did the decedent have a Will?
- If not, who were the decedent’s heirs? Have any heirs predeceased the decedent?
- Was the decedent fifty-five years of age or older?
- Was the decedent married?
- Have any probate proceedings been started?
The list goes on. However, the good news is, once we can get these answers, we will be able to come up with a comprehensive plan for you to be able to close as soon as possible within the constraints of your contract. You will want someone who has handled many of these transactions to be advising you on this important sale.
Let us take the worry and stress out of selling the home of a loved one who has passed away. Whether you have a signed contract on the real estate or not, contact us to walk you through the process that would apply to your specific scenario.
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