Hi, everyone. I have some concerns I hope all you helpful people can assist me with. I am in the process of selling some mineral interests I own. The entity buying sent me and I signed an Offer of Purchase. We are supposed to close this transaction this coming Tuesday. Let me add that this is a 1031 exchange, not that that matters, but it might explain why things have gotten so confusing with papers being sent back and forth. The Buyer and the 1031 intermediary both have the .PDF Deed I am to sign in front of a notary. I do not.
In reviewing my documents today (Sunday) for the upcoming closing this Wednesday, I realized, (1) My attorney and I are the only ones that do not have the Deed. (2) The Offer of Purchase I signed has an erroneous legal description. It reads: “An undivided 1/12 interest in the southern 160.08 acres of the E/2 of Section 1, Block 34,” such and such survey, with the correct abstract number, county, state, “containing 160.08 acres, more or less”
It should read, in my opinion:. “The S/2 of the E/2 of Section 1, Block 7,” such and such survey, with the correct abstract number, county, and state.
I would be willing to bet big bucks that the deed everyone has but me and my attorney has that erroneous legal description.
The Buyer has told me I need to sign and overnight the notarized deed to them as of tomorrow in order to fund the sale.
I am supposed to meet with my attorney Tuesday afternoon at three p.m., which would be after I sent the notarized copy of the deed to the buyer.
Now, I’m not the brightest bulb in the room, but I don’t feel I should sign a deed selling someone else’s property or sign a deed that my attorney has not reviewed.
No one has told me they have contacted the abstract company I sent them the name of for our closing. I have alerted everyone involved that I am not well versed in how this all works. The Buyer told me they have done their due diligence but now I’m concerned about that.
I would sincerely appreciate it if any and all would let me know what you think about how I should proceed from here. I want to complete this transaction and have acted at all times in good faith. I should have caught the typo in the erroneous block number, even though the abstract number and all else was correct.
Sorry for the length of this post, best I could do.