What is a Grant of Probate or Administration?

1. No agent can add to the MLS a property that does not have a grant of probate or Administration. 

2. Estate Sale Disclosure

1. Warning: Legal Consequences for Sales without Probate or Grant of Administration

• Selling properties without a possession date or a court order with the authorized person's name can lead to legal complications. Arguments may arise even after the grant is given. 

2. Understanding the distinctions between Probate and Grant of Administration is crucial:

• Probate: Ideal when a will is in place, representing the best grant for estate administration.

• Grant of Administration: Applicable when there is no will, and the court orders estate administration.

Buyer Considerations

If you're representing a buyer for a property without probate at the offer time, take note:

1. The buyer acknowledges that the seller is the Personal Representative, and no Grant of Probate or Grant of Administration has been issued yet.

2. The seller asserts that the person signing the contract has the authority to represent the sale, having applied for either grant, with consent from those entitled to the property share.

Possession Day and Grant Acquisition

Agreement terms if a Grant is not obtained by the Possession Day:

1. Delay Option: Possession Day delayed until 2 weeks after the first business day following grant acquisition.

2. Tenant at Will: If no grant by the specified date/time, the buyer becomes a Tenant at Will, paying an agreed upon  rent to the seller until Possession Day.

Contract Termination Options

In the absence of a grant by the seller's specified date/time:

1. Buyer's Termination Right: The buyer can choose to terminate the contract without penalty by providing written notice.

2. Seller's Discharge: The seller releases the buyer from all contract-related claims, causes of action, suits, demands, damages, and costs.

3. Deposit Return: All funds provided as a deposit are returned in full within 10 business days.

4. Vacation Requirement: The buyer shall vacate the property within 15 days of providing termination notice.

Seller Considerations

1. If you're representing a seller for a property without probate at the offer time, take note:

2. Clearly communicate the absence of a granted Probate or Grant of Administration to potential buyers.

3. Consider negotiating a timeline that aligns with the grant acquisition process to avoid complications.

Buyer's Right to Terminate Clause

This clause empowers the buyer with the option to terminate the contract if a Grant is not obtained within the specified time. It serves as a protective measure for the buyer's interests, offering an exit strategy when needed. This disclosure is intended for discussion purposes, and parties are strongly advised to seek legal counsel for personalized advice.

1. If either Grant has not been obtained by the seller by date/time the buyer may choose to terminate this contract at their discretion, without penalty, by providing the seller notification in writing. The seller will discharge the buyer from all claims, causes of action, suits, demands, damages and costs which relate directly or indirectly to this Contract. All funds provided as a deposit by the buyer will be returned in full within 10 business days. The buyer shall vacate the property within 15 days of providing notice to terminate this contract.

2. Buyer's Right to Terminate: The clause allows the buyer the option to terminate the contract if either Grant is not obtained within the specified time. This protects the buyer's interests and provides an exit strategy if needed.