Browse Forums Real Estate 1 Nov 16, 2014 8:40 pm Hi All,
We recently made a house purchase and post this sale becoming unconditional, the vendor has sadly passed away. My conveyancer is working to understand what this means, and I have spoken with a solicitor for some advice who seems to think the sale should still go ahead, it will likely just push back settlement... By a few months...! Does anyone have experience with a similar situation? Very stressful as settlement was due for 12/12, and we need to be out if our current place by 15/12... Re: Vendo passed away before settlement - advice appreciated 2Nov 16, 2014 9:01 pm I dare say that it should still go through okay, as since he vendor passed away after unconditional, it is a job in process. The vendor's estate are more than likely to push it through after they have had time to take in what's happened there. Worst case, you may have to wait for the estate to get to a certain stage that has to go through court... just can't think of the term used. Just remember I ain't no lawyer, so the quality of 'advice' I give you is worth less than the paper it is written on. Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: Vendo passed away before settlement - advice appreciated 3Nov 17, 2014 8:44 am Renojojo My conveyancer is working to understand what this means, Doesnt understand? Renojojo and I have spoken with a solicitor for some advice who seems to think the sale should still go ahead, it will likely just push back settlement... By a few months...! Seems to think? Sorry neither of these people sound very competent or experienced. You dont state your location, but In Qld a vendors death does not cancel a sale (unless the contract has a condition to that effect). So either the will executor with finalise the sale, or if no probate administrator, then the State (Public Trustee) steps in and administers the estate. In either case, to have authority to sign the land transfer document, the executor has to wait till a Grant of Probate is made by the State Supreme Court. This takes a month, plus the processing time of your solicitor. Under Qld contracts, a party who defaults on the settlement date (the vendor in your case) is required to pay you substantial penalties for each day in arrears. So you do get compensated. Re: Vendo passed away before settlement - advice appreciated 4Nov 17, 2014 9:02 am qebtel In either case, to have authority to sign the land transfer document, the executor has to wait till a Grant of Probate is made by the State Supreme Court. This takes a month, plus the processing time of your solicitor. That's the term I was thinking of, Grant of Probate. Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: Vendo passed away before settlement - advice appreciated 5Nov 17, 2014 11:56 am If settlement is going to be delayed, ask about being able to move in under license so you can still vacate your current place as planned. Land settled May '14. Building the PD Hoffman39: 5/11=site start, 13/11=slab pour, 26/11=frame complete, 10/12=roof on, 12/12=bricking started. Blog: http://jyndeira.net/blog/ Re: Vendo passed away before settlement - advice appreciated 6Nov 17, 2014 7:27 pm Thanks for your replies! qebtel Renojojo My conveyancer is working to understand what this means, Doesnt understand? Renojojo and I have spoken with a solicitor for some advice who seems to think the sale should still go ahead, it will likely just push back settlement... By a few months...! Seems to think? The conveyancer has indiciated they are not familiar with this situation so is seeking advice. You are right in that her advice does not instil a lot of trust in her abilities, hence I spoke with the solicitor. When I say the solicitor 'seems to think', he just gave me general advice and had not seen my contract, and said something along the lines that that in any sale, there are reasons why settlement may not occur and the sale not be completed and that the chances of mine not being completed are the same as if the vendor was alive.... But he saw the issue more being around 'the when'... I am in Vic and the property was due to settle in 3.5 weeks, so fair to say that settlement is 99.9% not going to happen on time. What a bugger (obviously it’s an even bigger bugger and very sad that someone has passed), it is just going to make things very tricky for us, as we are going to be 'without a home' a couple of weeks after that.... I have googled that we can move in early under a licence agreement, but the house has to be re-painted and have new floor & window coverings put in (which we had booked to kick off from 13/12) before we can move in as it is currently very very old and I would not do that until the house has settled, just in case something managed to go pear shaped somewhere along the line... First world problem really - it's just the not knowing that makes it difficult! Is it going to be delayed 1week, 1 month, 2 months, etc! Hence why I would be interested to hear in any other experiences of a similar situation...? Re: Vendo passed away before settlement - advice appreciated 7Nov 18, 2014 12:04 pm This is why I use a solicitor and not a conveyancer. You get what you pay for. I'm not familiar with contracts in Vic. But I know in NSW there is a section covering this. What does your contract say? Re: Vendo passed away before settlement - advice appreciated 8Nov 19, 2014 2:10 pm travelbug This is why I use a solicitor and not a conveyancer. You get what you pay for. Not quite. A competent conveyancer will know that probate must issue, and should inform their client that they should seek it, or engage a solicitor to get it. After the probate is granted, you can return to the conyancer for completion. True a solicitor can do the lot, but conveyancers are cheaper. Most conveyancers seem to work under an umbrella parent company of a solicitor anyway, so legal advice is jsut as close at hand quite often. Re: Vendo passed away before settlement - advice appreciated 9Nov 20, 2014 12:21 am Once probate is granted the executor of the Estate will be legally empowered to sell the house. Hopefully the person had a valid will and did not die intestate. And the time frame can depend on the executor, if the executor is an individual, not a solicitor, it could take longer, simply because they may lack expertise and time. It's a very time consuming process. However there is a time limit in which they have to lodge the application for probate. Here it has to be under 6 months (I think). It varies in each state. I've got a challenge here. Background is the builder has cut too deep for the slab and the slab is now below the very substantial retaining wall. It's failed occupancy… 0 18915 AS4654.2-2012 External Membranes it is "Informative" but if you get water ingress your insurance assessor will go to this straight away and if not achieved, they will deny… 9 2917 Versaloc is a mortarless besser block system that still needs a properly engineered footing. If you just do a 400x200 footing it will fail in time. At 17m long you need it… 1 22780 |