Real Estate Law
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Hi Mary Ann. I'm a little unclear on the proposed transaction? If the two brothers are buying the other brother out, why are they simply not paying the selling brother for his interest now? Thanks.
I'm still confused by the realtor's suggestion. If the two brother's are buying the one brother's interest, the two brothers should simply pay the selling brother now and have the selling brother sign a deed transferring his interest to them. There is no need for an escrow because once the selling brother sells, he has no further interest in the property and when and if the other two brothers sell the property has no relevance to the selling brothers.