Legal Question in Real Estate Law in New York

validity of agreement

If I own a parcel of property that is in forclosure, and am approached by a individual that offers to purchase the property at auction. A agreement is drawn up and signed that we would be 50/50 after he purchased property at the auction. Is the agreement void after the forclosure sale at auction.


Asked on 10/07/08, 2:10 pm

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Re: validity of agreement

No. The agreement would not be void since it contemplates the purchase by the partners at auction.

Mike.

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Answered on 10/07/08, 2:20 pm


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