Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 16 years ago on . Most recent reply

Account Closed
  • Tucson, AZ
45
Votes |
945
Posts

escape clause words needed

Account Closed
  • Tucson, AZ
Posted

There is a thread in another forum,
"about to sign for home sustain injury
...a week away from making settlement on home...when mother suffered a spinal cord injury. They had put a down payment on the house. The builders told them if they back out they loose the down payment... is there a way, legally, they can opt out of the agreement without loosing the down payment? "

Interestingly, a couple of weeks ago, prior to putting an offer on a house, I had said to my agent: I'm old and not in great health. What happens to this if I die before closing? She looked at me stunned, and said, well, I guess your kids complete it.
That is NOT what they would want, and since closing would be delayed, could be so much more extremely expensive.

What words can I have inserted in a contract to "escape" a contract in case of injury, illness, or death?
thanks,
ofgift

Loading replies...