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Updated over 8 years ago,
Need advice on property in probate
Hello,
I am currently working on a lead that is in probate and still in the deceased owners name. The son who the property was left to has done nothing to claim the property so after speaking with him, he spoke to a lawyer who said it would be a month to get it transferred into his name.
The problem is the property is tax delinquent and is scheduled to be auctioned off next week. The balance needs to be paid in order to prevent the auction.
My question is, is there a way to pay the balance and have a purchase agreement holding the seller liable to sell the property once they claim ownership in their name? Or is it just a roll of the dice, good faith if I pay this you better sell to me and do the right thing?
I have never dealt with probate so Im unclear on how viable the contract is with a seller who actually doesnt own the property and is he even guaranteed the property?
Any suggestions, questions, or information I should be seeking will be of great help.
Thanks BP