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Updated almost 4 years ago on . Most recent reply
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Recorded "Memorandum of Agreement" ???
Hi BP Family! Quick question for you.
When there is a RECORDED MEMORANDUM OF AGREEMENT on a property can Title/Escrow request to have it voided or do you have to go to court?
History to the question:
I, Jodi, had a signed PSA in Title/Escrow, long story short... The "Lack of Probate" didn't get done fast enough. Someone became the "Personal Representative for the Estate of...." and opened up probate.
(I know in the State of WA it isn't law to file probate. It ALL DEPENDS. I am not an Attorney but hired an attorney for the Seller to confirm that probate didn't need to happen. The Seller's Attorney agreed that the Lack of Probate was all that was needed. Title/Escrow provided the documents.
While the Lack of Probate was being done the Seller's Attorney said it was to late because probate was opened by a Court Appointed Personal Representative. At that time I was advised by more than a few collogues; one being an Attorney, saying I could recorded a "MEMORANDUM OF AGREEMENT". So, I choose to do that hoping the "Personal Rep." would contact me and I would have an option to continue with the purchase of the property. That did NOT happen. The "Personal Rep.'s Attorney" sent me (Actually my business, which wasn't who had the agreed/signed PSA was with. It was me, personally and the Seller) a not so nice letter threating a bunch of stuff that wasn't true or done.
Yes, I could call the Personal Rep.'s Attorney or hire my own Attorney but that would be more time and $$$$ that I would prefer not to do. I've already accomplished plenty of time and money. I know I have lost this fight, time to move on and get the next property. Don't get me wrong, I will if I have to but if Title/Escrow can clear it up then why not?
Thank you for your insight/advised. Much appreciation!
Many blessings to you, if you can learn from this take notes = please DO ;)
Most Popular Reply
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You can record anything. This cloud now needs to be dealt with by the title company/insurer before closing with any buyer.
A court appointed PR is acting in the best interest of the Estate. There may be more than 1 heir or other issues. Or perhaps not.
Generally speaking, if the issue which created the cloud is now uncontested, there just needs to be a rescission, void, release, etc. recorded concerning the original recorded Memorandum. The buyer would not need to go to court... the court gets notified of the resolution either by agreement or via the land records.
If the intent is to force the estate to sell (sounds like no), that is an entirely different discussion.
- Tom Gimer
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