Your attorney represents Albert Wilson who is the owner in fee of a parcel of improved real estate located at 1 Main Street, Middletown, USA
Your attorney represents Albert Wilson who is the owner in fee of a parcel of improved real estate located at 1 Main Street, Middletown, USA. It is a single family residence, located in an R-1 (residential 1 family house) zone, and served by city water and sewer. The house was built in 1944.
Robert Brown and Alice Brown, his wife, are entering into a contract to purchase the property. The sale price is $200,000. The Browns will tender $10,000 as down payment upon signing (earnest money) and pay an additional $10,000 within 20 days of contract signing. The couple is seeking a 30-year conventional mortgage of $180,000, at the current rate, which is 5.5%.
The Browns have already sold their house and expect to close on or before Month Day, 20xx, which is 90 days from the anticipated date of the contract with Mr. Wilson.
Assume that the property Mr. Wilson is selling to Mrs. and Mr. Brown has a rich vein of coal. Mr. Wilson intends to mine the coal for the next three years.
Prepare a letter, under the supervision of an attorney, to explain to Mr. Wilson how he can protect his right to mine the coal after the sale (in other words, research what document he needs to draft to insure his future right to mine it. Do not prepare the document; just refer to it in the letter to your client).
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