If I sign a contract for deed on a house and the seller dies owing a mortgage to the bank, what are my rights uner the contract, if any?

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If I sign a contract for deed on a house and the seller dies owing a mortgage to the bank, what are my rights uner the contract, if any?

Asked on July 31, 2012 under Real Estate Law, Indiana

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If the contract was executed but had yet to be fulfilled, the estate can indeed continue with the contract of sale.  You can force the estate to continue as well.  The lender will not foreclose just because the owner has passed.  The estate must pay the mortgage during probate.  Bring your contract to an attorney please to help you.  Good luck.


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