Legal Question in Real Estate Law in Florida
My parents entered into a Purchase agreement to buy a condo. Since that happened my father died without a will. Now my mother wants out of this agreement since it seems the developer is might go into bankruptcy. The developer and the title agency that holds the downpayment have agreed to return 50% of the money. But now they say it has to go to my father estate. My question is this: since the agreement was between the developer and a married couple doesn't that constitute a Joint Tenancy for the buyers (my parents) which would mean that the surviving party (my mother) receives the interest of the deceased?
2 Answers from Attorneys
If the contract was in Husband and Wife name (which is tenants by the entirities (like joint ownership), then you have a point.
Yes, Get their agreement in writing.
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