All Forum Posts by: Nikole Sturm

The situation is a bit complicated. The closing day has already passed with the PR having terminated the sale. The PR is an attorney and when the mention of specific performance was brought up, he said "Sure, I'd rather have a court tell me how to sell the property than a title company."

So with that being said, the cash buyer I assigned the contract to is done with the transaction and moving on.

The PR basically didn't want the son in law involved, but since the heir that was supposed to receive half of the estate subject to his death, already passed away. The title company was requesting the son-in-law sign at closing because he had life estate to his deceased wife's assets. At the end of the day, it seems more of an issue with the title company not doing their underwriting job properly and I will be using a different company next time.

Thank you everyone for your suggestions and advice!

Interesting. Ya, the legalities involved have been over my head. I've been trying to read up as much as possible, but at this point it seems to be a waste of time to try to deal with their family drama.

I checked out your website, closeprobate.com. Some good information on there. I am curious however on how someone would be able to buy out an heir's interest if the executor terminated the purchase and sale agreement?

Well, the Independent executor of estate showed up on closing day this past Friday with a termination of contract form. The title company accepted that, so the deal is off.

The break down of the family situation was a bit on the complicated side. Seems the executor of estate was using the "sale" of the house as a way to kick out their step son who was living on the property on the promise of getting some of the proceeds. The step son moved out a few weeks ago and was looking forward to the sale. However, the Executor terminated the contract.
The step son asked me after the deal went south if someone could "buy his interest" in the property. I'm honestly not sure if that's even a possibility?

The original home owner passed away and in her will & the probate case, it was declared her husband would be executor of estate. Subject to her husband's death the property would be divided between the deceased home owner's 2 children. One of the children has since passed away and left a husband and son. The executor of estate doesn't get along with the husband (son-in law). The title company's underwriters were requiring that the Executor of estate (Widow), his step son(actual son of the deceased), and Son-in-law sign off on the sale. The home owner/executor terminated the contract on the grounds that they did not want the husband(son-in-law) to get any of the proceeds.

Thanks Joel for the suggestion, I understand completely that it cannot be taken as legal advice. The buyer is going to check with his attorney and see what can be done.

Thanks, I would be making 10k assigning this contract. The Buyer is purchasing the contract at 400k which has an estimated 715k ARV. The catch here, is the Executor is actually a civil law attorney, and I'm starting to suspect he signed the agreement without intention to sell. If there would need to be a letter from an attorney, should that be something the Buyer should take care of? Since the contract has been assigned to him?

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.