Mixed family, my mom and dad had children that she brought into the marriage from previous spouses. My dad's spouse is passed away, and the house was in my dad's name and his ex wife's name. About 5 years before my dad passed away, it was put into my mom's and dad's name. now it is two years after he passed away and my mom tried to sell some of the land, and some of the kids from my dad's first marriage stopped the closing. they wanted the land she was selling or part of the money from the sale of the property, so it was settled that the money and expenses would be split evenly between the kids from my dad. papers are signed money is in the bank, but the attorney said my mom or the heirs can't touched the money for 5 months, but he and the realtor took there share. I don't understand why?
The real estate commission and attorney closing fees are part of the sale contract. The remaining assets must be held until the time runs for creditor claims to be submitted to probate. Once the statutory time has expired and the debts have been paid the remainder can be paid to the beneficaries. You should have an attorney to make sure everything is handled correctly.
sounds like the transaction fees were paid to broker and attorney at closing, the balance must be held until the claim period expires
The fees and commission are part of the contact of sale.
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