What happens if a listing agreement is signed by several parties and one of them dies?
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What happens if a listing agreement is signed by several parties and one of them dies?
If there were 3 owners of a property and they signed a contract with a real estate agent. One died and left his ownership in the property to his 7 kids. Is that contract with the agent still valid and in force?
Asked on March 22, 2012 under Real Estate Law, Wisconsin
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The listing agreement is a contract. The estate of the decedent could indeed enforce the agreement becuase it was valid when executed. Same holds true for the real estate agent: they can enforce it against the estate. So it is good until it expires. Then the estate may renew if the executor so chooses. Good luck.
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