QUESTION
In state of Virginia, is contract nullified with death of one of the parties?
Asked on Jun 16th, 2014 on Contracts - Virginia
More details to this question:
May husband was in contract to sell 4 acres of a 15 acre plot of land to someone. The person paid $35,000 down. We were not aware that the city where we lived had changed their subdivision rules so getting an approval has been long and tedious over 4 year period. Unfortunately my husband died without the city's approval of the subdivision plans. I did not sign the contract and my husband's will leaves all to me. The person has offered to pay the balance owed on the 4 acres agreed upon in the contract and buy the remaining property at a priced that is way too low. I told them when I sold the property I would pay back what they paid out to my husband. Am I under any legal obligation to this person.
1 ANSWER
With some exceptions (personal services contracts, for example), the death of a contracting party does not relieve his/her estate from performing under the contract. Although technically you personally are not obligated, your husband's estate is, as a practical matter it works out the same since you are the sole beneficiary of the estate.
Answered on Jun 16th, 2014 at 5:15 PM