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    parttime's Avatar
    parttime Posts: 1,440, Reputation: 113
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    #1

    Mar 13, 2010, 06:34 AM
    Can one enter into a binding contract to buy with the executor of an estate?
    For the purpose of beating the April 30, 2010 deadline for first time home buyer is it legal(West Virginia) to sign a binding contract to buy with the executor of the estate? The 90 day process of probate with take a few days past 4-30-2010. Thanks
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Mar 13, 2010, 07:27 AM

    Yes, the executor of an estate has the power to act as the legal representative of the estate.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Mar 13, 2010, 07:30 AM

    If the propety is suppose to be sold in probate, it is common for the executora to sell it and the proceeds go into the estate to be divided.
    parttime's Avatar
    parttime Posts: 1,440, Reputation: 113
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    #4

    Mar 13, 2010, 07:55 AM

    Thanks, Scott and Chuck, after further research on the first time home buyer tax credit, It list several relatives that would exclude you from the tax credit, Would buying from an Aunt make you ineligible for the credit? Would any Lawyer be able to handle this or should I look for a specialty? Thanks
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #5

    Mar 13, 2010, 09:27 AM
    Quote Originally Posted by parttime View Post
    ... Would any Lawyer be able to handle this or should I look for a specialty?
    Any attorney could, in theory. Some might not be comfortable doing it, but they should know if and when they are over their head.
    parttime's Avatar
    parttime Posts: 1,440, Reputation: 113
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    #6

    Mar 13, 2010, 09:43 AM

    Thanks AK lawyer. Would Aunt selling the property make the tax credit ineligible?
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