Probate

The real estate profession has become increasingly based in legalities. While a handshake can signify an agreement, the contract is the foundation of the real estate transaction today.

With the increased focus on legal issues, NVAR provides members services in the legal arena. Various articles on current and hot legal topics are provided through the weekly NVAR Online News. In addition, the Legal Information Line is available to members.

There are many real estate related questions that arise often. These FAQs (Frequently Asked Questions) by topic are provided to assist you in finding quick answers.

Probate

Q: I am the buyer’s agent.  I am in escrow with a transaction, but the seller died yesterday.  Can we continue with the escrow?

A:    Yes, but it will have to be concluded by the executor of the seller’s will or the trustee of his trust.  Probate law states, “If a person who is bound by a contract in writing to convey property dies before making the conveyance, and the decedent, if living, could have been compelled to make the conveyance, the court in which proceedings are pending for the administration of the estate of the decedent may enter an order directing the personal representative to convey the property to the persons entitled thereto.”