Contract for Deed
What Do I Need to File if a Buyer on a Contract for Deed Defaults?
Last Year I sold a parcel I owned in Elko County to another party using a Contract For Deed. The buyers have defaulted and I have sent 2 Default Notices and 2 Forfeiture Notices to them by registered mail. I am now taking the property back, but wanted to know if I need to file any legal forms with the County Recorder. I already called and had the Treasurer's Office change the tax billing address back to my own.
Who is the Landlord When Property With a Contract for Deed is Leased by the Potential Buyer?
I am on the Board of Directors of a condominium in Va. One of our residents entered into a contract for deed with another party (buyer). The buyer now wants to rent the property (with the full knowledge of the seller). Who do we recognize as the landlord? All leases are subject to board approval.
Is a Bond For Deed Like a Lease Until Title Transfers?
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.
Should I File a Deed Before a Contract for Deed is Fully Performed?
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 Does a Contract for Deed Protect a Buyer if Seller Defaults on the Mortgage?
A buyer is wanting to do Owner Financing but is concerned about protection should owner default on 1st mortgage. How do we protect each other on this item?