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View Full Version : What happens when the owner of a land contract dies in Wisconsin


medic792
Jul 13, 2013, 04:35 AM
Live in Wisconsin and have land contract for cabin. Person that was the seller (person who financed) passed away two weeks ago and have hear nothing regarding his death. Heard through grapevine so to speak. Up to date with regard to payments. Question is in the state of Wisconsin can the seller give the land to someone else?? If we are up to date with regard to payments will the contract continue as was laid out by the lawyer?? Do I have to worry about receiving letter saying pay up or else?? Just have concerns as to legal rights since he is gone and "friends" are managing things

Thanks for your assistance regards this matter

joypulv
Jul 13, 2013, 05:00 AM
Your contract passes to the estate, whether there was a will or not.
I would pay into your bank account each month, or even a separate account, because it could take a long time for the probate court to determine who you will owe from now until then. You would pay probate for a while if it does go through probate.
If it doesn't (such as if there was very little in assets) then you have to find out who inherits. I suppose you can do nothing, but still, keep those monthly payments going into your bank. If you can't find out anything, eventually file for quiet title.
I believe that heirs have to honor the contract and cannot call it unless you signed something that states otherwise.

ScottGem
Jul 13, 2013, 05:26 AM
Was the contract drawn up by your lawyer or the seller's? If the seller's then contact him and see if he knows who the heirs are.

Until someone contacts you and tells you where to make your payments, you do has joy suggested and make the payments into a separate account so you can turn the account over when you are told who to pay

I would also register the contact with the county to ensure that your claim on the land is known and the new owner can't sell it without dealing with you.

AK lawyer
Jul 13, 2013, 06:02 AM
... would also register the contact with the county to ensure that your claim on the land is known and the new owner can't sell it without dealing with you.

Since the OP is occupying the property, the estate, and any potential buyer, would have what the law calls "inquiry notice" that OP may have some right to it.

medic792
Jul 13, 2013, 06:19 AM
So to understand clearly continue to pay monthly payments. Just to completely understand though even if death clause is not part of contract filed between both parties in county courthouse we will continue to have cabin without concern of it being taken away??

ScottGem
Jul 13, 2013, 06:24 AM
The contract takes precedence. The contract is an obligation on the estate. So you should be fine. There are things you can do to protect yourself.

How have you been making payments?