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Updated about 10 years ago on . Most recent reply

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Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
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Seller (only one on deed) is passing away prior to closing

Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
Posted

So I have a situation that is terrible that I haven't ran into before. 

We have a property under contract with the Mrs. (only name on deed) who got the property from probate from her mom's passing (a few weeks ago). They asked for a 90 day close to give them time to get out. 

I still have 60 days left. I get a call from the Mr today asking if we can close in 2-3 weeks. His wife's health took a dramatic turn for the worst. I met with him today to get keys and while I was there he got a call from the Dr. stating that she has only 2 days left. I hung out at the house till his kids got there and was just overly compassionate and polite. He told me he still wants to get this done as it was his wife's wish for her kids to get the proceeds. They have no will as she is only late 50's and this wasn't expected. She is on IV meds and in no condition to do anything. When she passes he wants to know what to do. 

I'm assuming that we will have to wait for it to go through probate again and sign a contract with the Mr. 

He asked about POA but from my research that is only valid while the individual is living.

Most Popular Reply

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Jim Viens
  • Rental Property Investor
  • Kansas City, KS
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Jim Viens
  • Rental Property Investor
  • Kansas City, KS
Replied

Is the property in MO or IL? Having been a licensed title agent at one point I believe in MO title passes to the surviving spouse even if they are not on title (marriage creates a joint tenancy). That being said I would still do what @Rick H. suggested and get with a title officer at your title company ASAP and verify.

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