Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 almost 12 years ago, 02/19/2013

User Stats

6
Posts
0
Votes
Nikole Sturm
  • Austin, TX
0
Votes |
6
Posts

enforcing specific performance on a life estate

Nikole Sturm
  • Austin, TX
Posted

Any advice on what to do would be greatly appreciated!

I'm wholesaling a property that is set to close this Friday 02/15/13.
Back in December the Independent Executor of Estate signed the Purchase and sale agreement. He has already signed the assignment of the contract and met with the buyer.

While getting the title information together, the underwriters are requiring that the Executor's son-in-law and step son sign at closing and agree to shared proceeds.

Here's the dilemma. The Executor and the son-in-law do not get along, and for weeks now, would not sign the proceeds agreement. They wanted the other person to sign off first. Neither one wanted to meet in person.

Now that it's the last week of closing, The Executor of Estate is not returning calls or emails. He isn't responding to the title company either.

The Son-in-law wants to sell, but has been told by other family members that the executor isn't going to sell but rent out the property instead. So he's waiting for the executor to agree to his 1/3 of the proceeds and then he will sign.

At this point If the executor doesn't show up to the closing, is there anything that can be done to enforce the sell of the property? Would the other 2 sellers that are required at closing be able to complete the transaction without him??

Would enforcing specific performance be something I would have to have the buyer initiate as a lawsuit if it came to it??

Any advice would be great.

Loading replies...