Contract for Deed
Is a Bond for Deed sale considered a rental by a condo association?
Is a Bond for Deed sale considered a 'rental' by a condominium association until the 'bond' changes to a 'deed'? My condo association limits rentals to 10% of units. Owners are trying to get around it by selling Bond for Deed.
What should I do if the buyer defaults on a Contract for Deed?
I signed a Contract for Deed with a man December 7th, 1995. He is 3 months behind in notes, insurance cancelled, and 2 years taxes owed on the house and property (3 lots). I sent him a certified letter and a letter by mail telling him the amount of taxes he owed (2007-2008 $1,581.78), He had to have insurance at all times, and the house notes for (August, September, October were due now. He reinstated the insurance and I think paid the taxes but 3 months later he still has not made a payment on the house. His notes are only $162.28 a month. He now owes 6 months ($973.68) and on the 29th he will owe 7 notes. He never filed the original Contract for Deed. I had him sign a Quit Claim Deed at the beginning of the Contract that he had notarized because he owes taxes of some kind and was afraid he would lose his house. I had an attorney to tell me to have him sign the Quit Claim Deed so that in the future like now all I had to do was file the Quit Claimed Deed. I need to know if I file the Quit Claimed Deed what else would I need to do if any thing? He has been in the rears almost all the time. His insurance has cancelled 3 times. He only owes $3,352.09 + late payments he has never paid ($1,975.00 late notes owed) = $5,327.09 and the house will be paid for but I am paying a finance company the notes and I need to get the money or he needs to go. I would appreciate your help. Thank You.
How can I remove a recorded agreement for deed contract?
How can an agreement for deed contract which never should have been submitted to the clerk for recording be removed from public records or reversed when only one of the parties of the contract is available? The 'buyer' did not complete the transaction and never bought the property but paid to have a copy of the contract recorded as if it were real, resulting in a change in the tax records reflecting him as the new owner. The contract is null and void and the culprit has moved out of state and can not be found.
Is income from a contract for deed exempt from collection in Minnesota?
I've been assigned a judgment against a debtor who sold a house CFD (MN). Is the income from that CFD exempt from collecting? Can I try to collect from the person paying the CFD? The debtor lives in Texas, the CFD home is in MN.
How can I protect myself when assuming ownership of a home?
I am going to assume ownership of the home. I am looking for a contract to protect myself from them coming back and want their home back. I am not in a position to get financing through a bank so they are okay with this situation. Looking for a contract to take full assumption and responsibility of the home. They will not make any money off of the assumption to me. I will start paying the mortgage as soon as I move in the house.