The seller dies after an offer to purchase their property has been accepted. The seller’s grandchild inherits the real estate. What happens to the sale?
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The offer is voidable.
A is incorrect because the contract is not voidable. Voidable implies that one party has the option to cancel the contract, which isn't the case here. Death doesn't create grounds for voiding a real estate contract.
The grandchild is compelled to sell under the terms of the accepted offer.
The offer is terminate
C is incorrect because the contract is not terminated automatically by death. Real estate contracts are designed to survive such events, ensuring continuity in transactions.
The seller’s grandchild inherits the real estate. What happens to the sale? a. The offer is voidable. b. The grandchild is compelled to sell under the terms of the accepted offer. c. The offer is terminated. d. The grandchild may choose whether or not to honor the sale. 210 Unlocking the DRE Salesperson and Broker Exam, Sixth Edition
D is incorrect because the grandchild doesn't have a choice in this matter. As heir, they inherit both the property and the contractual obligations, including the duty to honor the sale.
Why is this correct?
B is correct because an accepted offer creates a binding contract that survives the death of either party. The grandchild, as heir, inherits not just the property but also the contractual obligations associated with it, including the obligation to sell under the terms of the accepted offer.
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