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Updated 7 months ago on . Most recent reply
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Seller Passed Away while Under Contract
Here's the situation. . .
I am under contract on a property that was supposed to close next week. Unfortunately, the seller passed away and does not have a will or trust. So it looks like this will be headed to probate.
The contract only had 1 contingency-the home inspection. The home inspection was completed prior to the seller passing away so all contingencies were lifted.
I am trying to be understanding since this is a difficult time for the family and they certainly have many arrangements outside of the sale of the house to consider. But it has been about 2 weeks since the seller passed and the seller's estate has not given any information to my relator or the title company.
Given that the estate is contractually obligated to the sale & that I have money tied up in the deal (earnest money, home inspection cost, interest), I am looking for advice to move this forward and/or a suggestion for a real estate attorney in Cincinnati.
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In most states the death of the owner cancels the contract.. Estate is not obligated to honor it. it .. but check with an attorney there this is an easy question to get answered. And state law will vary so .. I see this question on my RE broker CE occasionally and thats the answer at least in the states I am licensed in..
- Jay Hinrichs
- Podcast Guest on Show #222
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