Property becomes part of an estate while under contract.

[Jeremy Petersen]

Hello, I have a question about buying a property from a power of attorney for an elderly person. 

What happens if the property goes under contact through the power of attorney acting on behalf of the owner, but the owner passes before closing? I'm guessing that at this point the POA no longer has power, and the property is now part of an estate which must go through probate before being sold.

I intend to ask my attorney on Monday, but I was curious to see if anyone on BP had experienced this scenario.

Thanks in advance 

[Lance Lvovsky]

A POA is no longer valid upon death. You now will be dealing with the PR/Executor of the Estate. Speak to an attorney or CPA.