Q: We have a signed contract to purchase a house but seller is very ill and may pass away before closing.Does that cancel ?
Does that cancel our contract? It’s in Alabama.
A: Equitable Conversion takes place such that it is an enforceable Contract against the seller's successors in interest. It does complicate the title as the grantors' source of title must be determined and placed in the Deed's derivation of title clause. A Probate may complicate and lengthen the process. Sometimes you walk away.
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