Purchase agreement
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Purchase agreement
How do I write a purchase agreement to buy out my siblings on my parents house/
Asked on June 2, 2009 under Real Estate Law, Michigan
Answers:
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
Real estate agreements are among the most heavy litigated contracts and cause more issues that you can ever imagine as a result of the statute of frauds and the rules of equity. In my career, i have seen more fights involving family members that I ever thought was possible. You do not want to write this contract yourself. You want to make sure that you have a lawyer involved, including non-family witnesses to the agreement. This way, your sibling will be disinclided to fight. I do not want you to make a mistake that i see all the time, so please see a lawyer and explain how you want the payment terms to read and so forth.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.