Legal Question in Real Estate Law in Indiana
Real Estate Conditional Sales Contract
My parents sold me their house under a Real Estate Conditional Sales Contract. The purchase price was paid in full. I, in turn, sold the house to my sister-in-law and she has paid for the house in full. I didn't have the title transferred when I purchased the house and it now needs to be transferred to my sister-in-law. What do I need to do?
2 Answers from Attorneys
Re: Real Estate Conditional Sales Contract
Get a grant deed from your parents to you then you give a grant deed to your sister in law.
Re: Real Estate Conditional Sales Contract
Has anyone in your family ever worried that your parents might not have good title to convey to you? Is there a title insurance policy? I only ask because sometimes involutary transfers happen. Like an IRS lien. Or a judgment lien. So think about contacting a title company before you have your parents give you a grant deed and before you give a grant deed to your sister-in-law. Because if there has been one of these involutary transfers, and you give your sister-in-law a grant deed, you will be liable to her for the defects in title. (You are liable anyway, but better find out before things go too far. In most places, the buyer -- your sister-in-law -- cheerfully pays for the title insurance policy.)
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
