Selling my mom’s apartment was a bittersweet process. A frequent question I get is what to do with deceased’s property. Can we still sell it? What happens to the contract? Is the listing agreement still valid? What if it hasn’t been signed yet?
Neil Garfinkel,Esq. a real estate and banking partner at Abrams Garfinkel Margolis Bergson, LLP and broker counsel for Real Estate Board of New York (REBNY) has this to say: the listing agreement is still valid. The Will’s executor should be able to sign the agreement. If there is no will, then the deceased owner’s estate are subject to the Laws of Intestacy. Neil goes into greater detail and outlines a few scenarios in his Legal Line Question of the Week column. Check it out here: https://www.rebny.com/content/rebny/en/newsroom/E-Newsletters/BrokerageLegalLineQuestion/2016.html.
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