Tags

, , , , , , , , , , ,

missing assent formsOn April 22, 2013 there were still two missing assent forms. After completing preparations for the closing as described in the article Selling the Estate Rental Property: Prepare for the Closing, there wasn’t much for me to do other than wait for the assent forms to arrive. So, that same day, after the fire inspection, I called the attorney.

Initially, the call was to inform the attorney that the house passed inspection. Then the conversation shifted to mailing the certificate to the attorney for the closing.

After that conversation, I curiously asked, “Have all the assent forms arrived?”

The attorney replied, “No, there are still two missing assent forms. The belligerent beneficiary and one other beneficiary haven’t sent them yet.”

Then the attorney asked,”Can you try to get them to send the forms by tomorrow? Otherwise we’ll have to change the closing date.”

Puzzled, I replied, “I will try.”

After the call, I put the fire inspection certificate in the mail to the attorney. Then, began chasing down the two missing assent forms.

Dealing with the Missing Assent Forms

My first choice of the beneficiaries was a Luddite. When deciding to send the assent forms by email, I completely forgot that this particular beneficiary rarely checks email. So, I knew then that this beneficiary never knew about the assent form. Since the beneficiary lived in the next town over, I met the beneficiary to sign the form over lunch. Also, the attorney’s office was near the place where I had lunch. So, I stopped by to give the attorney the signed assent form.

The next beneficiary was the belligerent beneficiary. The belligerent beneficiary lived in another state three hours away from me. So, this wouldn’t be a quick fix. Anyway, I called the belligerent beneficiary and asked about the assent form. The belligerent beneficiary, sounding baffled, replied, “I never received an assent form.” So anxiously, I responded, “I have no time to get into the form or other things. I will send you another assent form and you must print the form, sign the form, and fax the form to my attorney no later than tomorrow morning. Otherwise, we’ll have to change the closing date.” The belligerent beneficiary agreed to the plan and told me the form will arrive signed by tomorrow.

The Closing Date

While discussing the belligerent beneficiary with the attorney, the attorney informed me that the closing date changed to May 10, 2013. There were a few legal steps that still needed work and both attorney’s agreed to delay the closing. Therefore, because of the delay, the attorney sent me a form to sign. The form is called the Extension Agreement, which extends the closing date from the date agreed upon in the purchase & sale agreement. To make the extension valid, both the buyer and the seller have to sign the form.

After signing the form, the delay bothered me a little. The preparation for the closing was ahead of schedule. In addition, the attorney received the original deed from me in plenty of time for the closing. So, perhaps the attorney couldn’t prepare the deed until all the assent forms arrived signed. The thought was purely conjecture, but I always felt that the belligerent beneficiary caused this delay.

Regardless, the closing for the rental property will mark the end of the asset settlement of the estate. After the closing, only a few tasks related to probate remain. So, I will have more leeway in dealing with the belligerent beneficiary.

Was this article informative? Does this article make clear that too many beneficiaries can cause delays in time sensitive events such as property closings? Share your thoughts or questions in the comment area below.