Hi I bought a corp last year, however, because the owner lifeless, I was not be capable of be the owner of the corp right after i signed the closing contract. The seller( owner's wife) sold the apt to me, and her attorney promised that the title of the apt will be transferred to me in 6 months by sgining a probation of closing on the apt. Because they entail to find the husband's Will. However the deadline came, they still own not gotten approved from court. the reason is the being who executed the Will when the husband died is in another country. Therefore we necessitate to wait for a couple months again for her to come rear to NY and sign the owner's Will. Then the seller's attorney can sumit again the Petition. Is anyone heard the story approaching this? Any advise?
Answers: This is adjectives a "title insurance" issue or will be, not an escrow or escrow agent issue.
Without proper documentation (will, orders from probate, witness) the title insurance company can not issue title.
I undeniably hope for your sake you were not talk into purchasing AND closing on this sale (without title insurance) and are very soon waiting for them to clear title. EXTREMELY RISKY and if this is the case, you obligation to hire an attorney immediately, as you own been conned within a "grieving widow" scheme.
Your press only states you hold not yet received title & why. It does not hint if you are waiting for title so you can close the sale (hopefully)
OR
if you own already closed, but now are waiting for the title. (You may enjoy been scammed)
Sounds fishy.
First of adjectives the attorney doesn't "sign" the will.
The will would have be signed by the now lifeless owner when it was made out. The attorney may hold retained a *copy* of the will but the original is given final to the owner. It is that original that wishes to be located.
I'd be checking to see who is on the coops records as owner of the apartment. Are they trying to market you something that the wife didn't inherit and thus doesn't own?
These are the kinds of problems that arise when buying property from an estate. Anything can turn up & you enjoy no redress because the person who cause the problem is usually dead. No one should even believe of doing so without an attorney. What your rights are depends upon the lingo of your purchase contract. I'm not sure what the laws of probate are. If you borrowed money from a lend institution I would not be very concerned, but if you are making payments directly to the merchant, I would consult an attorney that specializes in material estate law.
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Answers: This is adjectives a "title insurance" issue or will be, not an escrow or escrow agent issue.
Without proper documentation (will, orders from probate, witness) the title insurance company can not issue title.
I undeniably hope for your sake you were not talk into purchasing AND closing on this sale (without title insurance) and are very soon waiting for them to clear title. EXTREMELY RISKY and if this is the case, you obligation to hire an attorney immediately, as you own been conned within a "grieving widow" scheme.
Your press only states you hold not yet received title & why. It does not hint if you are waiting for title so you can close the sale (hopefully)
OR
if you own already closed, but now are waiting for the title. (You may enjoy been scammed)
Do mature one and only apartments across the world puff such?
Sounds fishy.
First of adjectives the attorney doesn't "sign" the will.
The will would have be signed by the now lifeless owner when it was made out. The attorney may hold retained a *copy* of the will but the original is given final to the owner. It is that original that wishes to be located.
I'd be checking to see who is on the coops records as owner of the apartment. Are they trying to market you something that the wife didn't inherit and thus doesn't own?
These are the kinds of problems that arise when buying property from an estate. Anything can turn up & you enjoy no redress because the person who cause the problem is usually dead. No one should even believe of doing so without an attorney. What your rights are depends upon the lingo of your purchase contract. I'm not sure what the laws of probate are. If you borrowed money from a lend institution I would not be very concerned, but if you are making payments directly to the merchant, I would consult an attorney that specializes in material estate law.
Resolved Questions: