Posted by JHyre in Ohio on August 22, 2002 at 07:20:59:
In Ohio, one attorney could represent all parties if the other parties consent in writing, after the appropriate disclosures.
John Hyre
Get out of real estate contract - Posted by Jesse
Posted by Jesse on August 21, 2002 at 14:37:39:
One spouse, who travels 90% of the year, wants to get out of a contract on building a new home. The other doesn’t. The builder said he would sue because it is a modified and upgraded plan. The other spouse wants to remain on the contract and own it as separate property. What forms need to be signed by the spouse that wants out of the contract? Divorce is not in the future but the spouse who wants to keep the property (and can pay for it alone) is getting a little help from his family. In the future event of divorce, the spouse that wants to go ahead with the signed contract wants to make sure he has 100% claim to this property.
Re: Get out of real estate contract - Posted by John Merchant
Posted by John Merchant on August 21, 2002 at 15:27:52:
Unless the builder is willing to sign, allowing the non-wanter to escape the contract, that spouse is still going to be liable on the agreement; just because he/she wants out, why should the builder allow him/her to leave without some kind of monetary consideration? If you were the builder would you let a signer to your agreement just walk away?
Now, the builder might be approached and paid something for a release, but again, why would the builder do this unless he’s reciving something of value for doing so? Suggest you put yourself in the builder’s shoes and ask yourself what YOU would want to do this.
And if some kind of agreement IS reached between the builder and both the spouses, about what and how the builder is to be secured and paid, then an attorney should be retained to write it up. In deals like this, it’s normal for just one attorney to do the agreement, and the others are ordinarily happy to have another of the parties do it, and pay for it; so it presents an opportunity for the party paying for it to have his/her attorney do it, with contract language favorable to the paying party.
Just remember an attorney can only represent ONE party, so the non-payors are NOT going to be represented by that attorney. If the deal is big and important enough to the others, then they’ll need to have their own attorneys look it over before they sign.