Legal Question in Real Estate Law in New Jersey
My father has been sick for over a year and a half. I'm his son and have power of attorney. We put his house up for sale. There was a buyer and I signed a contract to sell the house. My father just recently passed away. Is the contract I signed still valid?
2 Answers from Attorneys
It is still valid, but now you will have to deal with the Buyer as the executor of the estate (if he named you in his will) or as the administrator (if he died without a will). There are many steps that need to be done in conjunction with your local surrogate's office.
Keep in mind that this advice is given based on the little bit of information that you have provided in your question. My advice may change based on other information. Further, no one can rely on advice from an attorney who has not been retained. You cannot rely on this advice because we have not personally met and you have not retained me as an attorney. If you have not already done so, you should immediately meet with an Estate Law attorney for a full consultation before you take any further steps. You may feel free to call me to discuss this matter in more detail. Good luck! Rob Gleaner
The contract you signed in your capacity as agent under the POA is valid as you were legally empowered to act on your father's behalf. However, once he passed away, the POA was terminated.
If your father had a Will, the individual named as executor needs to apply for Letters Testamenatry; and if no Will then the next of kin needs to apply for Letters of Administration and will have to post a bond the value of which directly depends on the size and content of the assets in the estate.
Please call to discuss if your or your family needs legal advice.