Legal Question in Real Estate Law in Connecticut
My husband & I own a house in Ct that is current under a lease with option to buy. The rentor has until Oct 15 to purchase. I'm not sure if he is going to be able to secure loan by that date but he wants to continue to pay rent until a closing can be set.
In the meantime, my husband passed away unexpectedly on Aug 5th 2010. I don't know where to turn or who to believe.
My husband had will, everything transferred to me. However, I'm in a legal nightmare with a house we own in CT.
What do I do after Oct 15, 2010 ? If renter passes the Oct 15 deadline for closing, do I need a new contract and at what point is the realtor ( Purdentual ,who rented the house) out of the contract.
Can I just write a contract between owner & renter and not have to use the real estate?
I need to sell the house, so I want to work with renter to help him purchase, but can I legally get the real estate out of a comissions if the sell goes past Oct 15 2010?
My husband took care of these things. I have no idea where to even begin. Thank you for your assistance in this regard
2 Answers from Attorneys
It's a little complicated, but certainly do-able. When you say "Everything passed to me", does that mean the property was in joint names or that he left it to you in his will? Was an estate opened for him in another state? In either case, you'll need to file an "ancillary" estate in CT (if he left the property to you in a wil)l, or at least file a state estate tax return (there won't be a tax due, but you still must file the return).
You probably won't need a new contract with the buyer, but I wouldn't try to cut out Prudential. If it's the same buyer, they'll want their commission and you're just asking for a lawsuit if you try to do it without them.
We can help with the estate and real estate closing. Probably cost you about $1500 for the estate and $600 for the closing.
Not only may you have "estate" issues if the house is in joint names, but I would need to see the real estate contract you have with Prudential to give you an answer regarding the realtor.
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