Q: Am I required to forward eminent domain proceeds for property repairs when selling my home now.
I will receive money for a sewer tie in that will be available in approximately 2 years.
A: You did not mention whether the house was under contract yet. If you already have a signed buy/sell agreement with a bona fide purchaser, then you need to involve that person in the discussion. At the very least you would need to disclose it in your Seller's Disclosure statement. This is because your purchaser has an interest in the property now that the law would recognize. If there is no buyer at the present time, then keep the money. However, you would still need to disclose that on your Seller's Disclosure. Again, you future buyer will gain an interest in the property at the contract stage. You are also required to disclose everything you know about which affects the property now and in the future (if you know something will happen in the future).
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