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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Sale of inheritable expectancy.. Posted by Ward-CA- on June 09, 2003 at 8:39 AM In Reply to: foreclosure and no will posted by Richard Nostrand on June 09, 2003 at 5:38 AM : I'm in the process of buying a house that is in foreclosure and both the owners have passed away, and they did not have a will. The only asset and debt that they had was the house. We have agreed to reinstate the loan and start making payments on the mortgage. We have also agreed to get a probate lawyer for the two siblings so we can transfer title. My question is: Can I get the siblings to quit claim the property to me, to protect my interest while we wait on the probate court system, being the foreclosure process will be faster than the probate process. Any information on how to construct this transaction would be greatly appreciated =•=•=•=•=•=•=•=•=•=•= Richard, Yes, you can get the heirs apparent to quitclaim their potential real estate interest in the estate to you. I’d also get them to sign a Sale of Inheritable Expectancy wherein you detail the agreement that they have sold you their pending interest in the estate’s real property. Said sale evidenced by your payment to them in exchange for their Quitclaim Deed to you. Follow Ups: Re: Sale of inheritable expectancy.. Rick Harmon 10:12 AM, 06/09/03 (1) Re: Sale of inheritable expectancy.. Richard Nostrand 3:42 PM, 06/09/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I'm in the process of buying a house that is in foreclosure and both the owners have passed away, and they did not have a will. The only asset and debt that they had was the house. We have agreed to reinstate the loan and start making payments on the mortgage. We have also agreed to get a probate lawyer for the two siblings so we can transfer title. My question is: Can I get the siblings to quit claim the property to me, to protect my interest while we wait on the probate court system, being the foreclosure process will be faster than the probate process. Any information on how to construct this transaction would be greatly appreciated : =•=•=•=•=•=•=•=•=•=•= : Richard, : Yes, you can get the heirs apparent to quitclaim their potential real estate interest in the estate to you. : I’d also get them to sign a Sale of Inheritable Expectancy wherein you detail the agreement that they have sold you their pending interest in the estate’s real property. Said sale evidenced by your payment to them in exchange for their Quitclaim Deed to you. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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