Legal Question in Real Estate Law in Florida
RE: sale contract
is a sale contract needed by law if Im selling my property to my father and obviously its known that it will be sold AS IS.......is contract needed by law?
2 Answers from Attorneys
Re: RE: sale contract
It is NOT obvious that the sale would be as is. In fact, litigation among family members is common. You should have a contract drafted by an attorney familiar with Florida real estate law. There are many other issues that must be considered in an intra-family agreement.
Re: RE: sale contract
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No, a sales contract is not required by law but any prudent person would require a contract. This is especially so when dealing with a family member in order to avoid and misunderstandings which might cause the family to become enemies. If there is a lender involved, you will need to have a written Contract.
I would strongly suggest that you invest in a consultation with a reputable real estate attorney who can work with you on this transaction. An attorney should be engaged to draft the closing documents so why not hire him or her now? The cost difference will probably be minimal, if any.
Scott R. Jay, Esq.