Real Estate Law Question
28 years ago, my mother sold the family home. She was conned by the couple who bought it. They pretended to be struggling financially, always came over in a truck and hid their THREE
Mercedes Benz from her. She was really attached to her house and hand selected these people to be the family that was going to be allowed to purchase her home she wanted them to have it so bad they convinced her to finance the home purchase for them. She used an attorney and not a real estate agent and she had drawn up in the contract that she was selling the house to them at a low price with the understanding that they would once they decide to sell they will offer her or her children the opportunity to purchase back the home at that price.
The home is for sale as of this week and the open house is this weekend. I literally carried around the contract of the cell of the house for all of these years I threw it away about 6 months ago giving up that he would ever sell. I know that the title company has a copy of the contract of the sale of the house and I'm wanting to fight the fight. The listing is for more than double what they paid for it.
2 attorney answers
If you were going to sue them for fraud 28 years later, that would be crazy. If the contract actually contains some kind of right of first refusal to you for a set price, that could be a different story. Have you asked the title company for a copy of the contract?
Rights of reverter, rights of first refusal and other similar rights are often contained in Deeds and other recorded docs, even 28 years ago. I suggest you start by trolling through the Harris County Official Public Records (assuming the target parcel is in Harris): http://www.cclerk.hctx.net/applications/websearch/RP.aspx. If you can't find it there, you might engage a local title agent to search for you. Typically they will do so for a modest fee.
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