Contract for Land in Probate

[Jeffrey H.]

Hi BP,

I got a call from a direct mailout on land here in Texas.  The owner of the land is deceased and the caller is the Executor of the will, and also one of the two heirs to the land.  We talked for about 15 minutes about the situation, no debts from the family member, no ex-wives or other skeletons in the closet, etc.  The caller is on good terms and in weekly contact with the other heir, his sister.

I have sent him a contract for the price we discussed and once signed expect there will be some hoops for him to show he is the executor of the will, that the defined heirs of the will agree to price, maybe other things.

Today I will contact the Title Company to see what documentation they need to pass good title to the land, but was curious if anyone has been through this before.  Specifically did you have to get a probate attorney involved or could the title company work it out with their in house team?

Thanks!

[Rick H.]

Begin by understanding the deal you envision and when and where the profits will be made.

You'll need a cool if the will and death certificate, at minimum to start. 

I do not know Texas probate law nor if there's a summary probate or affidavit that can be filed and a formal probate avoided. I would take what documents you DO get to your title company or closing agent and ask what will satisfy them.

As to contract form, I do not know what Texas-specific contracts you typically use it if you use your own. I also do not know whether you intend to take title and resell or assign the contract. 

Why don't you post how you see the deal working and let title tell you what you need to satify their underwriting. It might be easier than you think. 

In the meantime, get your deal under contract now.