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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53698
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I have a real estate Question: I deeded 2 parcels of real

Customer Question

Good Morning
I have a real estate Question:
I deeded 2 parcels of real estate that I owned to my Father in 1996, and retained an option to repurchase the properties for a price to be "determined based on agricultural value", when he quit farming or when he died. (This was an agreement to settle a dispute between my Father and I) In 2001 My father, thought he was dying because he was diagnosed with cancer and quit claimed the property to myself and my three siblings. He didn't die until ten years later in 2011 and before he died in a quiet title action I filed and my Father joined as co-Plaintiff, against my siblings, he stated In a pleading signed by himself and his attorney (in 2006): "At the time of said settlement and options, it was and still is the intent of Edwin Kasben that William Kasben be permitted to purchase said farm land at a cost of no more than $100.00 per acre, which is the fair market value for said agricultural property."
My question is, and I need some legal cites and/or statutes to support. Do my siblings, as grantees of a QUIT CLAIM DEED at a later date have any standing to dispute my Father and my intent in a previous transactionSincerely
Bill (William E.) Kasben
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Richard replied 4 months ago.

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 4 months ago.

Bill..although you can never prevent someone from bringing a suit to contest this, they would not prevail. A quit claim deed can only transfer what the grantor owns and any ownership is subject to any encumbrances to that title. So, when your dad quit claimed an interest in the property to your siblings, he could only transfer what he owned and that ownership was the land subject to your option to repurchase. So, in the same manner as if the lender had a lien that the lien would follow the land transfer, your option to repurchase is an encumbrance on the property your dad transferred. Had your siblings purchased the property and your option to repurchase was not recorded, then they would have been bona fide third party purchasers with no knowledge of this option to repurchase and would not have been subject to it. But, here, they were not purchasers, but rather simply recipients of a gift via a quit claim deed. But, just to avoid any issues where they might try to sell their interests prior to your repurchase, I would suggest you record your repurchase option in the real property records of the city/county in which the property is located so any prospective purchase is on notice that it exists.

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Customer: replied 4 months ago.
The Quit Claim limitations are well and good and a (10) on that issue, but (always a but isn't there) What I am really asking for is support as to rather my siblings have any "Standing" to even challenge these options.
I've been to the Mi Court of Appeals twice and won (plus their motion for reconsideration was denied), on the validity of the options, Now they're disputing "The value of the land is to be determined based on Agricultural value". quoted from the one deed verbatim. (we both agreed, and My Father stated in a pleading in 2006, as follows: ".....It was and still is the intent of Edwin Kasben that William Kasben be permitted to purchase said farm land at a cost of no more than $100.00 per acre, which is the fair market value for said agricultural Property". I would like to file a motion for summary disposition that the don't have standing to even challenge what my Father and I agreed upon. This was actually part of a settlement of another civil case between my Father and I. My Father put on the one deed for two of the parcels in the price of that the value was to be determined by agricultural value. I prepared the later deed for the third parcel (which has some timber on it) stated the cost to be $200.00 per acre right on the deed. We both agreed to both deeds as settlement of a previous dispute that was ratified by the judge on the record etc, and no one is now disputing this price, but they're disputing the ag value on the other two farms. I need some law, or case sites that will disallow them even challenging the transactions between my father and I, the only parties to the transactions.Thank you for any help you can offer, and I will be willing to pay for your time researching this specific issue of "Standing", unless you know for fact and will tell me that I don't have an argument on that theory, and why Not.
Bill Kasben
Expert:  Richard replied 4 months ago.

Thanks for following up Bill. I'm afraid researching your case for you would be outside of what I can provide for you as I'm not located in your state. I can only provide information and to specifically provide specific research and then advice would be outside my scope. I'm sorry!

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