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    pappy_21's Avatar
    pappy_21 Posts: 5, Reputation: 1
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    #1

    Jun 16, 2010, 11:56 AM
    Executor's Deed for Contract for deed
    My father passed away, I was appointed executor of his estate. Before going into a nursing home, he acquired a few investment properties. He and his "partner" would buy building lots, put a mobile home on it, put in a driveway, secure utilities, than rent or sell CFD.
    As POA, it took several years to unwind these investments and separate the "partner".
    I am left with one unimproved building lot, and two properties which were sold CFD.
    I am the only heir. It is my understanding, that as Executor, I must file an Executor's Deed in effect transferring the property from my father to me. I have been told this will work for the unemproved lot (no one else involved), however, it will not work for the CFD's. What is your opinion? Everything is in Kentucky.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    Jun 16, 2010, 12:11 PM

    The Contracts for Deed are not recorded, correct?

    It seems to me all the buyers need is letters from you assuming your obligations under the CFDs. And until the CFDs are fully performed, you probably should transfer title to your name, using the same type as executor's deed that you are using for the unimproved lot.
    pappy_21's Avatar
    pappy_21 Posts: 5, Reputation: 1
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    #3

    Jun 16, 2010, 01:15 PM

    Yes, they are recorded.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Jun 16, 2010, 03:41 PM

    You can either leave the CFD properties in probate, allow the people to merely keep paying estate for their payments, till they are paid off, or you evict them for non payment.

    Or you can disucss with them, a new contract that allows you to change the deeds.

    Personally I would get an attorney, since even without a new contract for deed you should be able to transfer ownershp to you, and just be legally liable for the contract
    pappy_21's Avatar
    pappy_21 Posts: 5, Reputation: 1
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    #5

    Jun 16, 2010, 07:34 PM

    Thanks to both of you, I appreciate your advice.
    Has anyone else been in a similar situation?
    pappy_21's Avatar
    pappy_21 Posts: 5, Reputation: 1
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    #6

    Jun 23, 2010, 01:56 PM

    O.K. let me try a different approach! Would anyone have, or could they direct me to a site that has a template of an executors deed that would be suitable for use for property in Kentucky that has been sold CFD and recorded?
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