Back Out Of Contract
I put my house on the market in July and signed a contract due to my husband having a stroke I called and cancelled on Aug 26 Now the realtor says the buyer is contacting a lawyer I had to help my husband sign the contract and I do not have power of attorney for him Is this legal and is this a way out of the contract or what are my choices I live in Branson Mo
Do you have any contingencies in your contract? For example, contingent to buyer getting approval for loan, etc. Also, you said you helped your husband sign. What do you mean? Was he physically unable to sign but mentally able to agree to this contract? You may have an out if you use that angle. Give us more info.
The stroke affected his short term memory you can tell him something and in a matter of time forgets what you told for example to go get napkins for the table he does not know where they are or the laundry basket
Yes we were waiting for approval on the loan and an inspection from the VA
Any competent attorney can redact a letter that will reference to your husband's diminish capacity to enter into any legally binding agreement due to his stroke. I think you have an out here. The question is: what made you change your mind? Think about it. If you are reading this forum maybe is because you want to invest in real estate in the future. How would you feel about this situation if you were at the other end? ... Just curious.
The reason why is we have had this house for over 40 years I feel this would not be good for my husband to uproot him to another location I feel I would be adding to his already confusion and I don't feel I can do this to my husband We just celebrated 50 years of marriage and I know he would look out for my best interest if this was me
Sonja
You have excellent reasons. Contact your real estate agent and seller and explain that your husband's questionable state of mind after the stroke. Be ready to take a tough stand. Real estate agents are greedy and your buyer may have smelled a good deal and may not want to let go easily. I think you would prevail if you were to go to court. I would contact the local TV station if both the real estate agt and the buyer play hardball and publicize your plight. Good luck and God Bless You! PS. Today is my 5th wedding anniversary with 3 little kids to brag. I hope I live long enough to celebrate my 50th or even 60th.
did the stroke occur before or after the purchase contract (which is the type of contract I assume you are referring to) was signed? if after then, unless circumstances indicated otherwise, i don't see a basis for an incapacity argument since the event that would form the basis for the incapacity was subsequent to the execution of the contract. need further clarification on this point.
The stroke was before the contract was signed
You should be able to get out of this contract, since your husband signed after the CVA (stroke). One of this things that makes a contract valid is that a person must be "legally competent."
"A voidable contract is one that seems on the surface to be valid but may be rescinded, or disaffirmed, by one or both parties, based on some legal principle. A voidable contract will be considered by the courts to be valid if the party who has the option to disaffirm the agreement does not do so within a prescribed period of time"
"In questions of legal competency, it may be desirable to refer to the clients' lawyer. A party who understands the nature and effect of the contract has sufficient mental capacity. Mental capacity is not the same as mental sanity"
(from Modern Real Estate Practice in NC, 4th ED.)
I contacted a lawyer as you suggested He told me it was a legal binding contract and probably will not be able to get out of He wants to see me today and read the contract but says there will have to be a Dr stating the conditions of his mental ability and then still isn't sure this will be something we can use to get out of the contract He wants to charge me $75 for this consutation
Were I to play hardball as the buyer. If you "helped" sign the contract. I would come after you personally. I would allege fraud (or whatever served my interest) I would contact the DA etc. THis would be like me trying to sell your home to someone else without my having any interest in it.
If your husband is the sole owner, it is doubtful that he would lose the property if you signed and not him (check with the attorney and state statute regarding marital assets etc.)
That said, a motivated buyer could make your life miserable enough that you would want to sell the property rather than go to court and spend a thousands on legal fees.
I would do what Mario said " take a hard line and tell them you were goin to an attorney and would fight the sale". Then if the other party pushes it you can in fact sell the property to them. SOmetimes a bluff goes a long ways....
Luck!
[addsig]