Real Estate Law
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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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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!