Legal Question in Real Estate Law in Missouri

My LLC is buying a single family home with partial seller financing. The total loan amount is $10,000 to be paid back at $225 per month over 44.5 months. My question is, what if seller dies before the loan is paid off. Who do we pay the balance to and how can I make sure I receive the deed when the loan is paid off ?

Thank You

Dan W

St Louis, Mo


Asked on 3/14/16, 9:44 am

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

I believe that you would make your payment to the Personal Representative of the decedent, or their heirs or assigns. The legally responsible person would be obligated to transfer the property. You may have legal issues depending upon how the property is titled and how your deal was set up. Consult an attorney.

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Answered on 3/19/16, 3:44 pm


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