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Sell land to daughter and son-in-law but want to make sure…

Customer Question
Sell land to daughter...

Sell land to daughter and son-in-law but want to make sure that if it is ever for sale it will be offered to family first.

Lawyer's Assistant: What steps has the son-in-law taken so far? Has he prepared or filed any paperwork?

No

Lawyer's Assistant: Where is the land located?

What state

Submitted: 5 months ago.Category: Real Estate Law
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Answered in 4 minutes by:
11/9/2017
Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago
Dwayne B.
Dwayne B., Attorney
Category: Real Estate Law
Satisfied Customers: 34,389
Experience: Began practicing law in 1992
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Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today.

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Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

Please allow me several minutes to read your facts and type my response both initially and when you add a follow up question or add facts. Please don't ask "are you there", "where is my answer", etc., since when you post it can erase what I am working on. If we are having a conversation unless I tell you I am going offline, I will be here but I may be doing research.

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Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

Is there a specific question with which I could assist?

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Customer reply replied 5 months ago
I want to sell them the property but I want make sure that the land will go there only daughter and our only granddaughter and to also make sure if th land is every put up for sale that my 6 nieces and nephews get first chance to buy
Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

I understand your facts. What question do you have?

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Customer reply replied 5 months ago
What to do make sure what I want is done
Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

It would have to be written in as a part of the deed. When you go to the lawyer, don't let the title company draft this, explain exactly what you want and have a list of names, and they will put in there a clause that is usually called a "Right of First Refusal" although there are things it can be termed as well. It essentially restricts what they can do with the land and you make it where it is a part of the initial contract.

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Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

Sorry, to be clear it would be a part of the contract and the deed.

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Customer reply replied 5 months ago
we could do a deed even if they buy the property
Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

Yes, you always do a deed when someone buys property. It is what is filed to show a transfer of ownership/title.

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Customer reply replied 5 months ago
Ok should I do anything else so to make sure it goes to my daughter and granddaughter in the event something happen to my daughter and my so in law remarried
Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

No, there really is nothing else you can do if you want to sell it to them. The other alternative is to lease it to them but that's a completely different concept.

Selling it using this method and with proper wording on the sale contract and the deed means that no matter what happens it should be protected.

The only other suggestion I could make is possibly selling or gifting it just to her with some type of reversionary language where it reversts back to you if something happens to her. That's kind of an awkward way to do it though but you can discuss it with the lawyer who is going to do the deed and see what they think.

If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a 5 Star Positive Rating so I receive credit for my work. Also please consider clicking "BONUS" as a nice way of saying "thanks" for a job well done, although this is neither required nor expected. Of course, please feel free to ask any follow-up questions in this thread. I want to be sure all of your questions are answered.

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Customer reply replied 5 months ago
Thanks so much
Real Estate Lawyer: Dwayne B., Attorney replied 5 months ago

You're very welcome. The title company may try to convince you to let them do the paperwork but in this case don't. A lawyer will represent just one of you whereas the title company kind of represents both of you. You want to be the one represented so the duty is to do what you want.

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Dwayne B.
Dwayne B.
Dwayne B., Attorney
Category: Real Estate Law
Satisfied Customers: 34,389
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Experience: Began practicing law in 1992

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