If you're doing a rent to own on a house and the owner dies, can the executor or heirs kick you out of the house, raise the monthly price, or raise the amount of the house or do they have to honor the contract in it's entirety? In Tennessee

The quick answer is likely no. If someone has executed and filed a quitclaim deed, they have no interest left to sell. Any buyer is going to review title to the property and not accept deed from the parent.

This situation should be reviewed before you agree to pay the $350,000. The first documents I would examine are your commercial lease, any landlord representations regarding code compliance or permitted use of the premises as a restaurant, the certificate of occupancy and permit history, and the notices or reports identifying the gas-line violations. Tennessee currently applies the International Fuel Gas Code to regulated construction, but the governmental authority responsible for permitting and inspection can depend on where the property is located. Whether the cost ultimately falls on you or the property owner will depend heavily on the lease. Commercial leases frequently allocate responsibility for code compliance, repairs, pre-existing conditions, tenant improvements, and governmental requirements differently. If the gas work predated your tenancy and the premises were represented as suitable for restaurant use, there may be substantial issues concerning the landlord's obligations, representations, and potentially your remedies under the lease. I would not assume that simply because the municipality is requiring corrective work before opening, you are contractually responsible for the entire cost. The pizza oven is a separate ownership issue. The fact that the prior restaurant operator filed bankruptcy does not automatically mean the oven belongs to its creditors. You would need to determine whether the oven was owned by the former tenant, leased, subject to a perfected security interest, abandoned or transferred through the bankruptcy, or legally became a fixture of the real property. Tennessee law recognizes separate creditor and priority rules for goods and fixtures, including circumstances in which a secured creditor may have rights to remove fixtures. Before removing, using, or disposing of the oven, I would review the prior tenant's bankruptcy docket and asset schedules, run a UCC lien search, and determine whether the landlord received title to or abandoned-property rights in the equipment. I would also obtain the complete permitting history for the building and have counsel review the lease before accepting responsibility for a remediation bill of this magnitude.

Good morning. I am a WA State attorney, and I have reviewed numerous purchase and sale agreements (PSA), and have bought and sold numerous pieces of property in WA and CO. You are wise to ask this question. Since you are the buyer, normally your buyer's real estate agent would prepare the PSA for you to use, after discussing with you. Since you said a PSA "was presented to you" I"m wondering whether you are buying a new home from a building contractor. In any event, the purpose to an earnest money payment is to hold the home for you and let the seller know you are interested. In most cases, however, the seller can keep your whole earnest money payment if you back out of a purchase for reasons that are not protected in the PSA. For example, if you write your offer contingent on your subjective approval of an inspection report, or write your offer contingent on obtaining financing at terms you approve of, either one of these terms can get you out of the contract and also have your earnest money returned to you. There should be language in the PSA that clearly states what happens to the earnest money and how much earnest money you are providing. I hope that that is helpful. If you continue to have questions, I urge you to have an attorney review any and all documents, including those for loans, prior to signing anything.

A well-written purchase offer usually includes several ways for a buyer to back out of the purchase without any penalty - for example, if the buyer doesn't like the inspector's report, one can usually back out on that basis - another typical one is failing to obtain a loan. I hope your buyer's agent wrote up the offer in a way that gave you 2 or 3 "escape clauses" - you should talk with your agent, but if there are problems, I would recommend that you have a real estate attorney review your offer and help you get out of the offer - if possible - with minimal or no cost to you.

Based on what you’ve described, once the option period has expired without the buyer exercising their right to purchase, the option agreement is generally no longer enforceable and you are free to market the property to other buyers. To protect yourself, review the exact language of the option agreement to confirm whether it provides for automatic termination upon expiration, and consider sending the buyer a written notice—ideally by both regular and certified mail—confirming that the option has lapsed and that you are releasing the property for sale to others. Please be advised that I provided this information for educational purposes, and no attorney client relationship has been formed.