Updated about 12 years ago on . Most recent reply
Deed/ Contract
I have a property under contract with a gentleman. I failed to ask who's name the deed was in and of course it's in his deceased mom's name. How will this affect this deal? Now that I know this information is there anything I need to do to move forward?
Most Popular Reply
It is my opinion you do not have a property under contract. Contract law 101 is a meeting of the minds and an agreement between the parties of interest.
Seek legal advice where the property is located to verify my thoughts and to obtain your legal options.
There are numerous legal issues and considerations, such as wills, heirs, etc. Your attorney will review the situation and provide you with legal options that fit your situation as well as goals.
In the mean time, you may want to consider seeking other opportunities that do not require so much time and money. However, this will be a good leaning opportunity. Knowledge is power.