If an applicant passes away after signing an Option 2 grant agreement, what are the requirements for the surviving owner(s)?
If the applicant was in full compliance with the Option 2 grant agreement, then the agreement will not be binding on the estate or the heir(s). If the applicant owned and occupied replacement property in the State of Louisiana and was carrying the appropriate insurance on the property at the time of his or her death, the applicant is considered in full compliance. If there were multiple applicants who signed the Option 2 grant agreement, the surviving applicant(s) is responsible for carrying out the remaining requirements of the Option 2 grant agreement. If the applicant was not in full compliance with the Option 2 grant agreement at the time of his or her death, the contract will be enforced against the estate or the heir(s). If the estate or heir(s) is unable to comply with the Option 2 grant agreement the grant must be repaid in full.
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