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Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 34102
Experience:  30 years of real estate practice experience.
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Our mobile home is owner financed. The owner passed away and

Customer Question

Our mobile home is owner financed. The owner passed away and the estate wants to sell the contract to another person because they have decided it's too much work and they want the cash. Are they legally able to sell our contract to someone else?
They offered the contract to us, but because it is for a mobile home, we cannot get financing.
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Loren replied 2 years ago.
Thank you for using JustAnswer. I am Loren, a licensed attorney, and I will do whatever I can to answer your question.
Expert:  Loren replied 2 years ago.
Are you online with me?
Customer: replied 2 years ago.
Yes sir
Expert:  Loren replied 2 years ago.
Good evening. Unless the contract provides otherwise, the death of the seller does not terminate the agreement. The agreement merely becomes an asset of the estate.
It can be assigned, unless the agreement provides otherwise, but the assignee steps into the shoes of the seller. Your obligations would not change.
I hope this is helpful. If you have more follow up questions please let me know. It is never a problem.
Thank you.
Expert:  Loren replied 2 years ago.
Did you have further questions? Have I answered your question?