Q: In Virginia, is there a statue of limitations on a real estate contract developed by a deceased person
My mother established a real estate contract in 2/15/2023 signed by a lawyer, a real estate agent herself and the executor of the estate. She passed away 4/22/2023. The lawyer did not issue the deeds for the home or land to complete the contract. Is the contract still valid?
A: Generally, the stature of limitations for all written contracts is five years. However, with respect to a real estate contract the expiration of the settlement date could result in a termination of that contract. You should also be aware that the obligations of the parties could inure to their respective heirs and assigns. I highly recommend having a qualified attorney review the contract.
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