Legal Question in Wills and Trusts in California
I submitted a contract to purchase a property and was accepted by the seller. Before the close of escrow, seller passed away. Property will be in probate. Will the contract still be valid?
3 Answers from Attorneys
As long as the contract was valid when signed, the property was wholly owned by the decedent, and the property does not go into foreclosure, the contract should be enforceable aginst the estate of the decedent.
I agree with Mr. Hoffman. For your own peace of mind, contaact the heirs and see if they have any objections. Do not argue with them but you can say two attorneys have told you it is enforceable. It is the same as a debt owed someone; your IOU does not disappear because you die.
Most likely it is still valid. It is possible that the Probate Court may need to approve the sale, but it depends on how far along in the purchase process you were and if the family is going to make the purchase/sale difficult.
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