All Topics / Legal & Accounting / What if they die before you settle?

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of Meeg The DeegMeeg The Deeg
    Member
    @meeg-the-deeg
    Join Date: 2006
    Post Count: 13
    May 10, 2006 - 1:36 am

    I don’t mean to be morbid, but we are currently purchasing a property from a lovely old gentleman. It is only his name on his side of the contract. What will happen if he passes away between exchange and settlement. Does everything go on hold? Do we just settle as normal and the funds go to his estate? We’d like to do a bit of work on the place before settlement, which he is quite happy for us to do – but i’m not quite game! [ohno]
    Thanks in advance
    Meeg The Deeg

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 10, 2006 - 7:27 am

    I beleive things go on as before. The executor of the estate takes the deceased’s place.

    Terryw
    Discover Home Loans
    Parramatta
    [email protected]
    Sign up to my mailing list.
    Just send me a blank email, with “subscribe” in subject line.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Meeg The DeegMeeg The Deeg
    Member
    @meeg-the-deeg
    Join Date: 2006
    Post Count: 13
    May 10, 2006 - 8:27 am

    Thanks Terry,
    Does it slow anything down. The family are happy with the sale and everything. It just did cross my mind…..
    Meeg The Deeg

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.