Soble Law

Valid purchase agreements are contracts and are legally enforceable. The provisions of any contract spell out the legal remedies that parties to a contract have against each other in the event one party defaults. In your instance, there should be language in the contract that addresses the buyer's performance contingencies. Once a certain time period has passed in a purchase agreement, performance contingencies need to be waived by the buyer. With the contingency having been satisfied, if the buyer defaults thereafter and does not close the transaction, the seller can then enforce their legal remedies, which will vary by contract.

A: That will depend upon what you and your seller agreed to in the purchase agreement. If your understanding was that insurance proceeds would be disbursed to you, and it is not reduced to writing, then is most likely that you lost the right to assert a claim for the proceeds. Our contracts have provisions that address the proper amount of insurance funds that can be allocated to either party in the event there is problem with the property while it is under contract.

Just becasue it says "lifetime," one would STILL need to look at the warranty contract to see how the contractor / entity defines 'lifetime".

The purchase agreement and conveyance instrument will dictate whether or not you retain mineral rights. People sell or lease mineral rights on property every day- but these rights are still regulated by the state law in which the property is situated. Texas law has nothing to do with Michigan law. Contact a real estate attorney. Remember, good real estate agents are for the most part, still commissioned sales people, not legal advisors.

A purchase agreement is a legally binding contract. Generally speaking, If the seller represents in the purchase agreement that an item will remain at the home after the sale, then they need to leave that item when they close on the home. See more at www.provenresource.com

It is very common that a probate judge will allow the personal representative to be reimbursed by the estate for their fees for bringing the probate action. It is usually stated as one of the first provisions in a will. When there is no will, the attorneys may need to request the judge to allow the estate to reimburse the personal representative.

You would have to reach out to a mortgage banker to assess your income ratios with and without the current mortgage payment that you- co-signed for on your mother's loan. This more of a financial matter than a legal matter. as banks have to follow certain lending guidelines for their mortgage loans.

It will depend on what the purchase agreement between you and the seller says. Whenever you are dealing with such a large purchase, such as a home, and there are legal proceedings, probate or otherwise, it is best to have your own attorney represent your interest as the purchaser.

A title company does not provide legal opinions as to how title to a property can be corrected. They only render an opinion only as to the the state of the fee simple ownership to a property at the time the title report is ordered and pulled. Only attorneys (real estate attorneys preferably) can provide legal advise on how a title defect can impact your legal rights and ownership to a property.

I would not recommend that your buyer ever contact your mortgage company. What I would consider is having a dedicated bank account where your payment to the mortgage company is automatically deducted. Have your buyer deposit the monthly payment into this bank account. Monitor this account regularly.

If you grandmother owned her home and died without a will, and the deed is in her name, then you will have to go through the probate process in order to have title conveyed to the 'rightful heirs." Dying without a will is called dying "intestate" and that means that Michigan's laws on inheritance will apply under mandatory court supervision. I strongly suggest that you consult with a probate / real estate attorney before moving forward on your own. Please see www.provenresource.com for more information.

Generally, in Michigan, stating "Married" in the warranty deed will have the same legal affect as having a joint tenancy with rights of survivorship.

The legal complaint goes to arbitration instead of being filed with a court. Arbitration is is a legal process that the parties agree to go through outside of court. The same legal pleadings are used, but instead of a judge - the parties have an 'arbitrator' who acts like a judge. The process is usually no different, except that it is a faster process and it can be more expensive, since it is funded by the parties, unlike the courts, which is funded by public tax dollars.

The answer will depend upon several variables, but generally, owning a property jointly (with specific legal language) will allow your son to take title to the property upon your death. There are several types of deeds that will help accomplish your concerns without going through probate. You should definitely speak with a real estate / probate attorney.

Whether or not you receive a principal residence property tax exemption will ultimately be decided by the municipal tax assessor. Yes, the assessor will look at the deeds and how you and your girlfriend hold title together, but more importantly, they will investigate to determine who lives in the properties. They will look at utility and water bills to see if the property is a rental or not. They may even go to the home to see who lives there. But ultimately, how you hold title to a property in a deed, is not the most important indicator of maintaining a principal 'residence."

The answer depends on what you wish to do with the home. If you are probating the home, and you are the personal representative for your father's estate, you will not be liable for the debts of your father, including his mortgage. As the personal representative, you can sell the home and pay off the underlying loan. If you wish to keep your father's home for yourself, then, under federal law, the lender will ask for evidence that you are related to the homeowner, and will allow you to continue making payments under the mortgage. You will need to provide them documentation to support the ability to make payments on the mortgage. The lender will not call the loan due, even if your father is the deceased and was the primary mortgagor. For more information, visit www.ProvenResource.com

We would have to see the actual lease, but generally speaking, there are some implied promises that the landlord makes when leasing to ensure your 'quiet enjoyment' at the property. An implied "Warranty of Quiet Enjoyment" means that a tenant has the right to live in a space peacefully and free from unreasonable recurring disruptions or disturbances.

If he co-signed for the loan, only the lender / creditor can issue a release - otherwise, he remains as a cosigner on the loan until the home is either refinanced or sold.

Without a written purchase agreement, you do not have a valid contact. Real estate transactions, especially those dealing with purchases need to be in writing pursuant to the Statute of Frauds. My suggestion is that you return the deposit. Based upon your facts, you haven't even detailed the terms of how the deposit was to be treated. Questions remain as to when the deposit was to be credited to your proposed buyer or what bank or title company was holding the deposit. What other contingencies affect the deposit? Without written detail this 'transaction' is difficult to enforce. Hence, the need for a written document with specific provisions to guide the parties to a closing.

The provisions of the trust should control. Regardless of their recent passing, if the seller had the authority to sell the property during their lifetime, then the other beneficiaries of the trust are also bound by that provision. This is provided however, that your sales agreement was signed by all parties and there were no further contingencies to close your transaction.

After a homeowner pays off a mortgage in full, they need to obtain a mortgage discharge from their lender. The lender needs to provide the discharge to the mortgagee within 60 days of the receipt of the loan payoff. Additionally, most mortgage contracts call for the lender to record the discharge with the county registrar of deeds. In a private mortgage arrangement, it is best for the homeowner to record the mortgage discharge. If the loan involves a land contract, then land contract buyers do not receive a discharge. Instead, they receive a deed from the seller. The deed serves as proof that the terms of the land contract were met, and the buyer is now in fact on title to the property as the owner.

Just because you forgo a home inspection when you purchased your home, does not necessarily mean that you are stuck with a property's defective condition. However, it may be more difficult to make claims against a seller in these circumstances. Therefore, unless you were relying upon a seller's completed disclosure statement that says the home is structurally sound, you may have taken the property in it's current state without further recourse against the seller. Seek further counsel.

If the seller is not competent to sign closing documents, he certainly cannot make his son his power of attorney at this point. Instead, the family needs to file for a conservatorship and have the court appoint the son as a conservator. A conservator is legally authorized to manage an incapacitated person's financial affairs. This would include the sale or mortgage of a home. While this may delay the closing, doing anything less than this may open the transaction up to legal challenges at a later date.

Mortgage Lenders and banks control the entire financing process while mortgage brokers are 'money finders" and typically do not control the underwriting process or funding of a mortgage.

Provided that your real estate documents are actually conveyance documents recognized by statute, and recorded, then the answer is 'no,' your partner cannot sell the home without you.

We would have to review the contract, but generally speaking, it the consultant would be required to return the money for work or services not performed as contracted between the parties.

The lender should recognize the judgment giving you the exclusive rights to the property provided that the court order for divorce that awarded you the property was recorded with the registrar of deeds.

By law, your lender will need to provide a mortgage discharge evidencing your loan payoff.

It will depend on what the lease provisions in the contract says. If the tenant has an option to renew for a sum certain already stated in the lease, then you may not be able to raise the rent. If there is no provisions that address an option to renew, then you can.

Your buyer has an insurable equitable interest in the property. They buyer needs to have a hazard insurance policy on the home for the purchase price - at a minimum.  They then names YOU as the LOSS PAYEE on the insurance policy.  If there is a fire or any other damage, your balance gets paid off first. You are the legal owner.  The buyer gets the difference between what they owed you and what they insure the property for.  That's how it works. Good luck!

First, banks are always happy to have a guarantor with means, whether they are the owner of a property or not. Banks will also be happy to lend to qualified limited liability companies, but will then require that the members of the LLC sign for the loan personally, essentially guarantying the loan. Having a limited liability company is important is for protecting and shielding individuals and their assets from outside legal exposure. ie. tenants v landlords. My preference is that real estate investors set up a limited liability company as soon as they can. See www.provenresource.com for more information.

Generally "no," the seller's agent has no rights against you directly for commission or any other fees. Their agreement is between the seller only. However, a buyer's agent can bring an action against you for their portion of the commission that buyer agent would have earned had you closed. The seller may have an equitable action against you (depends on the remedies set forth in the purchase agreement) for specific performance and can compel a sale. See more at www.provenresource.com

Thank you Erica. I am glad we could help. You should contact your City Assessor's office to let them know that you will have legal title. You may have been given the principal residence tax exemption earlier on. So check with them. I would recommend that you contact the office to discuss further if you have any other questions.

Thanks for waiting....you can keep taking the payments, but let them know that you are not waiving any of your rights. Since the contract is almost paid off, when you generate your payoff, make sure you add any late fees to the final payoff before you provide them with the deed. Good luck.

Being named as a personal representative in a will is not enough. You must have the Probate Court's permission to sell the home. You cannot just sell a home that is not listed as part of the estate, until you actually list the home as an asset of the estate.

Even though your personal liability under the promissory note has been discharged, the terms of the mortgage remain in effect and the owner of the mortgage can still have a lien on the real estate. After the bankruptcy, the lender can ask for a new payment plan from the borrower or they can foreclosure on the property. They just can't pursue you personally.

That will be up to the assessor to give you the property tax exemption at this time. Technically a "sale" has not occurred because the deed has not yet been transferred, however, some assessors recognize your equitable interest and will give you the principal tax exemption.

Take a look at the provisions of your divorce decree. Most often there is a section related to property and a requirment from the judge that a deed is issued from one party to the other within a certain time frame. If the deed has not been issued, the divorce decree can operate as a court order for the conveyance of the property, BUT it must be so ordered by the court at the time of the judgement of the divorce was entered.

From your email, it sounds as if you wish to provide private financing. You most likely are going to need to create a land contract between you and your family, or create a private mortgage. Either selection has its pros and cons and so you should speak with a competent real estate attorney to address your concerns further. www.provenresource.com

Normally, home inspectors limit their liability to the amount of the price of their inspection report. They state this in their contract with the prospective homeowner. However, they are not protected from gross negligence. It is important for you to have an attorney review the home inspection report further. The extent of damages would be based upon the disclosed lifetime of the room at the time of your purchase.

Yes, the group can designate one party to act as an Attorney in Fact under a Power of Attorney. The Power of Attorney will need to be filed in the county in which the subject property is situation.

No. You do not have to be a signor on a person's bank account to act on their behalf provided that you have a valid Power of Attorney that gives you that authority. Just present that document to the bank official and they should accommodate you and your wife. I hope this helps. www.provenresource.com

That will all depend on the terms of the purchase agreement. Typically the buyer has 7 days from the date of the signed purchase agreement to perform an inspection (hire your own inspector - not one referred by your sales person). If there is a problem or concern raised by the home inspector, you usually will have 2 days from the date you recieve the home inspection report, to inform the Seller. These time frames can be negotiated. Hope this helps. See more at www.ProvenResource.com

It is highly unlikely you can sue the seller's agent. This is especially true when most home sale descriptions ("listings") will say that the information about the house that is provided is "deemed reliable but not guaranteed." This means it is incumbant upon the buyer to verify the square footage, usually through an appraisal. Furthermore, most agents have general releases in their contract. Lastly, this is the seller's agent, not yours, and so without evidence of deliberate and fraudulent behavior by the agent, you may not have a case.

In a partition action, you could elect to pay off your brother's interest if he fails to work with you. Nothing prevents you from paying off his 1/2 of the fair market value of the property. This would be offset by all of your contributions made to the home over these past years, including payment of taxes, repairs etc.

A power of attorney expires upon the death of the party who grants their power of attorney (the ‘Principal”). So your sister, (the ‘attorney in fact”) cannot enter into any binding transactions after the death of the principal. What happens with your father’s rental home will have to be determined by his will, if he in fact left one.

A: If there is a structural issue or home defect that comes to light prior to a closing and the seller should have disclosed the defect that was known to them, then you may have grounds to cancel the transaction. The fact the home inspector could not get into the garage to do their home inspection is important to note. I would suggest that you speak with a real estate attorney further so that they can review your documents, before an anticipated closing. As far as commission driven sales people, they are not attorneys and cannot provide legal advice. See www.ProvenResource.com for further information.

If there is a structural issue or home defect that comes to light prior to a closing and the seller should have disclosed the defect that was known to them, then you may have grounds to cancel the transaction. The fact the home inspector could not get into the garage to do their home inspection is important to note. I would suggest that you speak with a real estate attorney further so that they can review your documents, before an anticipated closing. As far as commission driven sales people, they are not attorneys and cannot provide legal advice. See www.ProvenResource.com for further information.

You should always have the seller execute the deed at the time the land contract is signed and submit the deed to an attorney's escrow for when the land contract is paid off; the agreement is satisfied. This way you don't have to chase after the seller at a later date.

Yes, our real estate law firm regularly handles adverse possession actions through Michigan and Ohio. In fact, the only areas of law that we don't handle concern zoning issues. Other than that, we are a full service real estate law firm that successfully works with transactional matters and litigation concerns. You can learn more about us at www.ProvenResource.com.

A. While it is always a good idea to have insurance on your property, the amount of insurance protection can be limited. If a judgement is entered against you for an incident that relates to your property, and that coverage does not meet the balance of a judgement, you could be personally and financially exposed. Having a company will shield you from personal liability. See more info at www.ProvenResource.com

You should challenge the deed for fraud and have your signature verified by a handwriting expert. If the notary does not recant, and if your former business partner refuses to correct the problem then you will have to challenge the validity of the deed with a law suit.

First, your sellers should have completed a separate disclosure form for the pool. These are necessary especially when the purchase transaction occurs in the winter, where it is virtually impossible to inspect a pool's overall condition. If one was not completed, but still the seller failed to reveal the pool's true condition, they still may be held accountable for intentional misrepresentation and in certain circumstances, you may be able to rescind the entire transaction even after the closing.

All contacts, whatever subject they cover, should have provisions that address a party's rights and legal remedies in the event the other party to the contract fails to perform according to the contract. You should never feel that a contract has to be endorsed as presented. The terms of a contract can be negotiated. If you are embarking on a home remodeling project, you need to ensure that you include provisions that address your rights against the builder. Having a written contract is like having a road map. The terms of the contract act as a guide for what is expected from each party in the business relationship.

A: The estate can continue to pay on the mortgage. Federal law allows children and spouses to continue to pay under the mortgage after the mortgagor dies. You must remain current with the mortgage however. If you are not current then the lender can take steps to protect its interest and then foreclose. So remain current with payment, insurance and property taxes.

A: The closest thing to a statute dealing with the failure to provide a deed upon a land contract payoff is one that relates to requiring a discharge after 60 days. However a land contract clause will control and so if the deed is not provided to the buyer and the buyer performed as required, then the buyer can maintain an action for a breach of contract claim. against the seller.

No. Under the federal Fair Housing Act, landlords and housing facilities must allow service dogs and emotional support animals, if necessary, for a person with a disability to have an equal opportunity to use and enjoy the home. To fall under this provision, a person must have a disability and must have a disability-related need for the animal. In other words, the animal must work, perform tasks or services, or alleviate the emotional effects of your disability in order to qualify. A doctor's prescription is sufficient evidence of the disability.

Generally, purchase agreements have provisions that require that a home be vacated by the seller before a closing. That would include the seller's personal property. Buyers should perform a 'final walk through" of a home before a closing to ensure that the home is in the same condition that it was at the time of the purchase offer, and that repairs, if any, have been completed. Buyers do not have to close on a property if the overall condition of the home is not acceptable. If your son is having a difficult time paying for the removal of the home contents, the parties could also agree to hold money back from the seller's proceeds to pay for the removal of personal property.

A copy of the recorded deed should be sufficient if it states that you and your former husband owned the property as "husband and wife" or "jointly with rights of survivorship." If this 'magic language' is not contained in the deed, then you will need to consult with an attorney to probate the property. On a related topic, deeds are legal contracts that have far- reaching legal and tax consequences and they should be drafted by legal professionals.

A: There is no such thing as a "verbal easement." Generally, the Statute of Frauds requires that any agreements related to real estate are reduced to writing in to prevent fraud.

Until the interest of homeowner (LL) is completely extinguished, the lease obligation remains. But practically speaking, when tenants find out that their landlord is in foreclosure..they don't pay.

Eva, A real estate attorney needs to review the sales agreement to see what provisions apply and if there are any penalties, or legal remedies available to the seller. You can contact my office at 888.789.1715 to discuss further.