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Buachaill, Barrister
Category: Law
Satisfied Customers: 10956
Experience:  Barrister 17 years experience
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A person exchanges contracts on the purchase of a house and

Customer Question

A person exchanges contracts on the purchase of a house and pays the deposit - say 10%.
What is the position if that person dies before completion ?
Submitted: 4 years ago.
Category: Law
Expert:  Buachaill replied 4 years ago.

Buachaill :

1. There are a few possibilities. Essentially, the estate of the deceased person can go ahead and buy the property by completing the purchase. Alternatively, the estate can decide not to go ahead with the purchase and forfeit the deposit. The decision in each case is that of the executor if there is a will or the administrator if the person dies intestate. Finally, even if the seller seeks specific performance of the contract, a court will not likely grant it given the fact the buyer has died, as this material change in circumstance makes it inequitable to enforce the contract for sale.