Legal Question in Real Estate Law in Oklahoma
deceased's contract binding
My deceased spouse had signed a real estate purchase contract with his parent. After his death, bereaved, I continued to make payments. Terms of the contract are that the parent will be paid a monthly installment until death of the parent. Am I legally binded to that contract, until the death occurs? I feel I am approaching a fair market price being paid for the real estate. Am I stuck with the terms of this atrocious contract that I never signed? Do I have any options or outs that would allow me to sell the property or gift the property to my children, etc. Is there anything in particular the contract had to present in writing in order for it to be legal and binding?
Thanks
1 Answer from Attorneys
Re: deceased's contract binding
An attorney will have to see the contract to know whether it is legal and whether it gives you or your children any rights.