Legal Question in Real Estate Law in Florida
I am buying a piece of property in Citrus County Florida on a contract for deed deal. The seller is the owner and the deed is in his name only. The seller is 83 years old and I am wondering what would happen if should die prior to completing the 8 years contract payment term? I intend to file the contract for deed with the deed office so I will be noted as a pending deed transfer, but if he should die prior to the end of term, would that property be subject to probate or would the deed be able to transfer to me when the final payment is made, regardless if the owner died? Additionally, what can I do to ensure that the deed would pass to me without going thru probate if the owner should die?
1 Answer from Attorneys
You need to have a real estate attorney go over the contract with you and explain to you what would happen if the owner dies and what you should do in that event.