Contracts are typically enforceable in courts if they’re not honored. Generally, a property owner may have a contract that explains what happens to property when the property owner dies. Each properly prepared contract will provide oversight and enforceability in regards to property ownership changes.
However, without a contract there is no oversight between the people involved in changing the property’s ownership. Without a contract, the court must provide oversight.
Contracts are agreements, typically between two or more people, that are usually enforceable in court if not honored.
Generally, a property owner may have a contract that dictates what happens with that property when the property owner dies. Such a contract will facilitate the transfer of ownership of that property to a different, living person when the property owner dies. Each such properly prepared contract will provide oversight and enforceability regarding property ownership changes.
Read more about avoiding probate in Lee’s article in the Lima News here: Legal-Ease: More than one way to avoid probate
Source: LimaOhio.com, “Legal-Ease: More than one way to avoid probate,” by Lee R. Schroeder, January 19, 2019
Lee R. Schroeder is an Ohio licensed attorney at Schroeder Law LLC in Putnam County. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at 419-659-2058. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.