Unfortunately, there are only two universal truths in life, death and taxes…
When the former arises, an estate sale is usually the result. As the heirs of the deceased, a binding contract for the sale of the home can only be entered into once the estate has done the following:
- obtained a grant of probate or letters of administration;
- disclosure of affairs to mortgage lenders; and,
- filing of transfer of property into the name of the estate.
Therefore, any contract should be written as “John Doe, as executor of the estate of Jane Deceased” and should be “subject to the grant of probate or letter of administration in favor of the Vendor”