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My wife's family is selling ehr grandmother's house. There are about 8 people on the deed of the house, 2 of which are dead. It's out of attorney review but apperantly one of the people on the deeds has a lien on them. The attorney also needs to see teh wills of the 2 people that have passed away. These don't seem like much (dont know they extent of the lien right now). Everyone is supposed to walk away with about 30k. Can the buyer pull out of this deal over this? or is this usual business. What about the lien. Even though their are 8 people on the deed, lets say the lien is for 50k targetes against one person. Can they claim 50k from the sale? Or would the lien only be placed on that particular persons cut?
The deceased members' share should go to their heirs, and the lien is on the property not agianst a certain member. That will need to be sorted out by the seller's attorney. If it comes out of attorney review then I would imagine that the attorney has it all figured out.
Can the buyer pull out of this deal over this? or is this usual business.
Possibly. Read your contract of sale under the title search/defect of title paragraph, and as others have correctly said, discuss in detail with your attorney, who will work with the buyer's attorney to attempt to resolve these issues.
Rhys
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