Bronx, NY asked in Real Estate Law for New York

Q: I have an agent that has some serious health issues. What happens if the agent dies prior to a closing?

As the Broker/owner who can I legally pay?

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2 Lawyer Answers
Answered
  • New York, NY
  • Licensed in New York

A: I assume you mean a real estate agent. You would pay the agent's company, and if no company, the estate. You do not get a free deal.

Barry Eran Janay agrees with this answer

Answered
  • Montclair, NJ
  • Licensed in New York

A: You have a contract with the broker I assume, that contract is probably freely alienable, assignable, etc. by said broker or if it is not it directs who is a permitted assignee. In any case, their would be a proper successor to the contract (as the other attorney pointed out, it's either the firm he works for or his estate). It is worthwhile for you to sort this out now while he/she is still living to workout a plan. Happy to assist if you need help, just email me privately.

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