Contracts
In Louisiana, a real estate purchase agreement becomes binding on the seller's estate if the seller dies after accepting but before closing. This means the seller's:
AHeirs may cancel the contract without penalty
BEstate is obligated to complete the sale under the contract terms✓ Correct
CAgent must find a new seller immediately
DMortgage is automatically paid off by the buyer
Explanation
A binding real estate contract generally survives the death of a party — the seller's estate becomes obligated to complete the transaction, and the buyer may proceed against the estate for specific performance or damages.
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