If the owner of my property died and we are in an escrow to purchase the property, what happens to our purchase agreement now that he has passed on?
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If the owner of my property died and we are in an escrow to purchase the property, what happens to our purchase agreement now that he has passed on?
His property is owned by an LLC that he formed. His girlfriend has informed us that she has power of attorney and is threatening to go bankrupt as well as telling us that she has the power to sell the house otherwise now. We don’t know if our purchase agreement is still in effect as well as the escrow which we are in with the deceased. How do we handle this?
Asked on February 8, 2012 under Real Estate Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Get a lawyer. Now. Power of Attorney for what? His Power of Attorney? it died with him. If his interest in the LLC wa part of his estate then you have a right o enfrce the contract against the estate as you would have against the LLC if he were alive. So do not even engage her in any conversation at this point in time. Get a lawyer to sort through the documents that you have already signed and to take action to enjoin her from doing anything with the property or the escrow until you figure things out. Good luck.
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