Purchase Contract after owner passing away?

[Tyler Hubbs]

I have some what of a legal question but want some colleagues advice! I have a property under contract with a 60 day closing. Here is the story, property owners son is a drug addict and has destroyed the property so I told her I could help her out! We agreed on a price and set a closing date 60 days out, 59 days go by and it ends up that she is in the hospital with pneumonia. I signed my closing docs Thursday and instructed the mobile notary to pick up flowers and take them to her hospital room when she is supposed to sign Friday(next day) BAD NEWS! She passes away Saturday without being able to sign her final docs!! I do have my contract recorded but I know it has to go through probate and I’m guessing the heirs won’t want to sell for my purchase price?! Do I have the right to enforce my contract?! I don’t have an issue letting it go but it would have been a $40+ profit deal.

[Steven Swick]

@Tyler Hubbs I would recommend going in for a consultation with a local attorney who is familiar with Nevada probate and real estate laws.

A lot of the advice in this thread is incorrect, at least from the standpoint of Ohio probate law. When a person dies after signing a purchase contract, but prior to the closing, their estate is bound by the terms of the contract. So long as the Seller was competent at the time of execution of the contract, the probate court will enforce the contract and direct the Executor/Administrator of the Estate to sign the closing documents and complete the sale under the agreed upon terms.

There may be a somewhat significant delay in closing, but if you wish to proceed you will likely be successful in closing the deal after allowing time for the estate to be opened with the court and the contract to be presented. I recommend finding an attorney who can communicate with the attorney handling the estate to ensure that the heirs/fiduciary/court receive a fully executed copy of the agreement and let the attorneys work out the logistics of getting the court to approve the sale. The only difference at the end of the day for you should be that you pay the purchase price at closing to the Estate rather than the deceased owner.