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buying a house owner dies...

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J

jazmills

Guest
Help !!!!

Mom was in process of buying house in NY.
Owner died today. Daughter is on deed.
They were suppose to close on the 13th and have already given notice on present housing. Will sale end up in probrate? Or should they cut and run?
 


HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by jazmills:
Help !!!!

Mom was in process of buying house in NY.
Owner died today. Daughter is on deed.
They were suppose to close on the 13th and have already given notice on present housing. Will sale end up in probrate? Or should they cut and run?
<HR></BLOCKQUOTE>

If the deceased owner and the daughter held title to the property by way of joint tenancy, then the property is not subject to probate. Check with the title company to see if the property still can be sold.
 
T

Tracey

Guest
Assuming everyone on the deed signed the sales contract, the survivors and/or the dead guy's estate representative have to close. If closing is delayed, your cost of living in a hotel/renting storage space/paying to move the second time all come out of sellers' money. Have your attorney write them a letter IMMEDIATELY telling them when mom's current housing goes away & saying that she'll sue them for breach of contract & delayed closing damages if they don't close "in a timely fashion".

If daughter has taken the entire property via joint ownership, she can complete the sale without needing any authorization from a court. It's now hers, free & clear. If she & parent were joint tenants, then she owns 1/2 & the parent's estate owns the other 1/2. The estate representative will probably need an emergency order from a court allowing him/her to complete the sale within the next week. Usually it takes a few days to get a representative appointed. The parent's executor/representative will have to jump on the stick & get into court fast.

Whether the parent had a will or not is irrelevant. The sales contract survives his death (unless it specifically says otherwise). It is considered a 'debt' the representative must discharge. If closing is delayed, you sue the estate & the heirs lose whatever $$ you are awarded. This is their incentive to close quickly.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.
 

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