Questions:
- While the property is under probate application, do the Executors have right to sign the Agreement of Purchase and Sale, with the probate clause, before getting the Certificate of Appointment from the Court?
- The property is being sold As-Is Where-Is. Is there any disadvantage to the Seller to allow home inspection to the buyer before making an offer?
Answers:
- I assume that the application has been made but not yet granted by the Court.
The authority of the Executors comes from the Will, They can sign a Listing Agreement, the Agreement of Purchase and Sale, and related and ancillary documents. However, they cannot execute the Transfer/Deed until the “Certificate of Appointment of Estate Trustee with Will Annexed” has been registered. So, the caution here is that they just cannot close the deal.
2. Now that TRESA is in play, there are additional obligations for disclosure should some problem be identified. That matter should be canvassed with the Sellers and their informed consent obtained in advance. Most Sellers properly advised would refuse. But, there are situations were it might be helpful. There are also some additional precautions that might be required.
Brian Madigan LL.B., Broker