Probate Deal
In march of 2001 i signed a contract to buy a house in Jesey City, New Jersey. It turns out the seller (son of person who's name is on deed) is in probate to sell house, since Dad died without will. The judge supposedly wil sign off on paperwork in next month or so for son to sell property (the long time frame has been due to seller changing attorney a couple of times and in addition all the original paperwork got lost/destroyed in 9/11 disaster. My question is does my orginal contract still stand? The property has appreciated over 100k over my contract purchase price.
Steven Mullerezdealinc@hotmail.com">ezdealinc@hotmail.com
To frame your question legally, the issue is whether a contract with a decedent, made during his life, is binding on his heirs...and no question, the answer is yes it is.
IF all the required elements of a valid RE contract are present: Offer & acceptance in writing and signed, and legal consideration and competent parties, etc.
I'd sure recommend you have your lawyer involved and you put all parties on legal notice that you do have a contract that you're enforcing...so nobody, in the name of the estate, attempts to go around your rights.
john-thanks for reply
i made contract with son after dad died, and he thought he had legal right to sell it-"the paperwork was coming thru any day now" hence three years later
steve m
some deals are worth waiting for, sounds like yours is one of them 8-)
Oops!
I misread your first post, thought you'd made deal with Dad, but now understand deal is with son, made before Dad's probate completed...and before Son was fully in title.
You should have your lawyer look at this & if you do have rights against son, and his interest in the RE, record something now, to protect your contractual interest in the RE.
If you record nothing, Son may try to go around your interests.