QUESTION

Does the land contract holder’s husband continue as it has been if she just passed away and I have 3 years to go to the commencement of my contract?

Asked on Jul 18th, 2014 on Estate Planning - Michigan
More details to this question:
She had a loan on the house and made her payments from my payments monthly. What happens now, will I have to finance the house? She was married.
Report Abuse

3 ANSWERS

Business Planning Attorney serving Livonia, MI at Frederick & Frederick Attorneys at Law
Update Your Profile
Not enough information is given to answer your questions. Who signed the land contract? Only her? Who owned the property? Only her? If the answer to both questions is "only her," then some form of probate will be needed to help straighten things out. Was there a Will or Trust? If not, the property would pass to the next of kin. That might be the husband alone. It might be the husband and children of the decedent. It might be the husband and parents of the decedent. Since there are so many unknowns here, your best bet would be to review the entire situation with a lawyer to determine where you stand and how best to proceed.
Answered on Jul 22nd, 2014 at 2:44 PM

Report Abuse
Business Law Attorney serving Bingham Farms, MI at James T. Weiner, P.C.
Update Your Profile
Your question is a bit unclear. I assume you are the buyer of real property on land contract and you have three years until a balloon payment is due to terminate the land contract.The seller of the property was a woman that recently passed. She was married. The land contract continues as before and whomever is her heir gets her interest in the land contract subject to your rights as buyer. Her heirs have the legal duty to provide you with a clear title once you make your balloon payment at the end so they have to continue to pay the underlying mortgage.
Answered on Jul 22nd, 2014 at 9:48 AM

Report Abuse
Appellate Attorney serving Grosse Pointe Farms, MI at Musilli Brennan Associates, PLLC
Update Your Profile
The land contract will be an asset and liability to the estate. See an attorney. It is possible you should be paying the estate but there are missing details.
Answered on Jul 22nd, 2014 at 9:47 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters