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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 27227
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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Do children of a deceased parent have to honor a mortgage

Customer Question

Do children of a deceased parent have to honor a mortgage agreement between the decreased parents and buyer of property if the contract included a section that says heirs were bound by the contract, even if the children were not aware of the contract and there is no will ?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.

Good afternoon. I certainly understand the situation and your concern. If the contract addressed/referenced this specific situation, then the answer would be Yes. The reason why I say this is because it was the intent of the parties, to have the contract survive, upon the passing of the seller. Intestate property is property that has not been disposed of by a will. Typically, if there are lineal descendents but no surviving spouse, then the estate is shared by the lineal descendants. However, if the contract says that it is the intent of the deceased to have the home sold to the buyer, then it would control.

Expert:  RealEstateAnswer replied 1 year ago.
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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