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| *Ostroff, Fair and Company>>>Renting & Real Estate |
If someone dies after signing a real estate contract is the contract dead? |
my ex husband died, I am a realtor, my kids want me to sell, not the other listing company - they claim the contract is alive - I say it dies with the signing party You are correct. In the case of a listing contract, the death of the person who signed same terminated the listing contract. The listing does not automatically transfer to the estate of the deceased. However, do be prepared to handle commission issues for any potential buyer who may have seen the property under the original listing contract. I've just checked our state realtor's association legal hotline on this one to be sure. The contract goes to the heirs, in this case your ex's new spouse or the children. Of course contracts are not instantly invalid upon death, if that were true families would end up homeless all of the time. |
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