strange seller request is it legal?

**frankie450900** · 11-28-2008, 12:03 PM

Hi I am looking at buying a tract of land. the land was jointly ownwd by a deceased partner and the land is in probate the surviving seller has negotiated an excellent payoff price with the mortgage holder, the estate has agreed to the sale but the surviving owner has asked me to pay him on the side about 25k so he doesn't have to share it with the estate because the estate is insolvent he calls the payment a finder's fee/commission. is this legal? if i pay him will i be breaking the law or just getting a great deal? this property is in Tennessee.

**Greg** · 11-29-2008, 07:13 AM

My concern would be paying this untrustworthy person $25,000 and then the sale doesn't go through. In order to protect yourself the exchange of funds should take place at closing but if the money changes hands at closing this person won't be able to hide the funds.

If this person is willing to rip off their deceased partner then they will have no problem ripping you off. Extreme caution is warranted with people like this.

**frankie450900** · 11-29-2008, 05:56 PM

I see your point but my question was is it legal? that is major concern in this case.

**Greg** · 11-30-2008, 04:32 AM

Yes, in most parts of the civilized world, stealing is illegal.

**rtibbs4** · 12-01-2008, 08:56 AM

Anything labeled "on the side" should immediately give you cause for concern. The estate probably owes more than its sold assets will cover so the seller wants to make a side deal. You get a discount and he gets something as apposed to nothing after the estate goes through probate. It's illegal and not worth it. Run away.

**REI GIANT** · 03-01-2009, 03:07 PM

Never pay someone "on the side". Always make sure that ALL monies paid to anyone are listed on the Hud 1. When dealing with a probate it is very important that ALL details of the sell are disclosed to the estate of the decedent. If you do not disclose all information the estate could sue you. I have been invloved in probate for years and have seen it happen.