From: roger@hayter.org
On 24 Aug 2025 at 23:03:21 BST, "Nick Odell" wrote:
> On Sun, 24 Aug 2025 17:09:01 +0100, Mike Scott
> wrote:
>
>> Hi all. A couple of friends are buying a house, but there's a bit of a
>> hiccup.
>>
>> The seller is suffering from severe dementia, is elderly, and may
>> possibly die soon. Her affairs are being managed by relatives with power
>> of attorney.
>>
>> My friends' solicitors are dealing with the sellers' relatives'
solicitors.
>>
>> The question has arisen of what happens if, after contracts are
>> exchanged but before completion, the seller dies. AIUI the contract is
>> valid, and the sale goes through as if nothing had happened and the
>> moneys form part of the deceased's estate. But it's been suggested the
>> contract would be voided (with obvious major knock-on problems).
>>
>> Any thoughts please?
>
> Is the money all in place? Are there any complications likely to
> arise? I know there is a conventional, leisurely pace at which these
> transactions take place but in the past I have asked for and received
> a speeded up process in order to take possession by a particular date
> and maybe this is a case where, if matters are straightforward, things
> could be moved along a bit sharpish.
>
> I have even heard of exchange of contracts and completion both
> happening on the same day but that would need all parties to be on the
> same page over everything.
>
> Nick
I've done it within 8 days, but we did require the vendor to do a couple of
rather complicated things before completion, too.
--
Roger Hayter
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
|