Real Estate Law
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Wow. this is wonderful.
The 1st transaction/contract was signed on Feb. 8, 2013 those docs (the real estate contract & Q/C Deed) were prepared by a transaction broker.
The son spent about $40,000 in fix up cost. After the house was fixed up - then the son took his docs to a title Company. After examining all docs, the Title Company told the Son/Buyer to go back and redo everything, because NO SALE HAD BEEN CONSUMMATED.
The son decided not to go back and redo the docs, but had the keller williams agent list the house through his father/original seller.
So in the eyes of the Title Company, and Keller Williams the house still belonged to the Father and could thus be legally sold.
Follow up question.
Since the Title company knew about the 1st Q/C deed, and the Keller Williams agent also knew about the Q/C. and since they both instructed the son to fix the deed and go record it. AND THE SON DID NOT COMPLY.
The father is, in reality, "sucked back into the deal" by virtue of a default of performance on the son's part. Remember, it was the father who signed the Q/C deed in good faith in the presence of a transaction broker (TB). The father thought he sold his house to his son.
Shouldn't the TB have had a notary present for such an important vesting instrument? Remember, the County Clerk cannot except or record an unnotarized Q/C deed.
Shouldn't the Son have read the "TIME IS OF THE ESSENCE" clause and carried out HIS CONTRACTUAL OBLIGATION to record, the clean Q/C title deed, owned solely by his father?
Since the willful non-performance of the son, forced the father back into ownership. Can the argument be made, THAT THE SON BREACHED THE CONTRACT BY NOT PERFORMING WHAT HE AGREED TO DO? or is the TB at fault for his error?
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