I found out because my checks got return under deceased address.The contract is for 5 year with 11% interest. Title under my name. What should I do? how can I find out about next of Kin to make sure they not come after me later for the rest in lum sum
2006-06-23 06:37:01 · 9 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
What is a lum sum?
2006-06-23 06:49:39 · answer #1 · answered by hotsauceg 2 · 0⤊ 0⤋
All of the above are grossly misinformed.
You do not, at this time, appear to own the land or any title to the land whatsoever according to the limited facts you presented.
What you entered into is referred to as an "installment land contract," and they are very bad ideas.
According to the common law (which is mostly unchanged in this area in every state), such a contract is not binding until full consideration is paid -- that means that until you pay off the entire sum, you don't own anything yet.
In fact, if she had wanted to, she could have just said "nope, I don't want to sell anymore," and you'd be out of luck (although she couldn't just keep the money in that case).
Her successors in interest are under no duty or obligation whatsoever to honor the contract she made with you. If they want you off the land, they can evict you in court. Then you would have to probably sue the estate to recover the money you paid on the contract thus far as a debtor action.
My suggestions -- get a lawyer (although he's going to tell you the same thing), and try to work out a deal with the old lady's heirs. And next time, don't buy land like this -- get a damn loan from the bank like most people so that you actually OWN something (with a mortgage lien) instead of owning nothing, which is what you are legally entitled to right now.
2006-06-23 14:43:01 · answer #2 · answered by DemonOly 2 · 0⤊ 0⤋
You need to find a lawyer and get into probate court at once. Only a 6 month period most states to file this type of claim, or you may lose everything. If you have an original copy of the contract, take it to the county recorder where the property is located and record this contract against the land now and get an attorny NOW time is short.
2006-06-23 15:30:44 · answer #3 · answered by frankie59 4 · 0⤊ 0⤋
Even if there are no relatives there will be an estate and for the property to be legally yours you must complete your contractual obligation. Contact the attorney that drew up the contract he may be able to guide you in the right direction. If not you can always make your regular payment to the court and they will keep the money in escrow until the estate is settled. Good luck.
2006-06-23 13:57:07 · answer #4 · answered by Badkitty 7 · 0⤊ 0⤋
Check with the court house. And also the obituaryin the pape can be looked up to find relatives. I imagine someone knows about the land and will be in contact with you.i would document that you send the payments with registered signature, if someone is taking care of the legal situation of the death, they should recieve the mail.
2006-06-23 13:45:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋
DemonOly is absolutely right on this one. You were buying on a Land Contract and until you made ALL the payments AND she recorded a deed at the courthouse in your name, you do not own any portion of the land (works like renting until you pay off). Talke DemonOly's advice.
2006-06-23 15:24:39 · answer #6 · answered by DG 2 · 0⤊ 0⤋
It's good that you want to do the right thing. I would suggest calling the county clerk where she used to live and ask them about her will, and to put you in touch with he next of kin. Explain you owe her money and I bet they'll help.
If that doesn't work, you may need to get an attorney to help you.
2006-06-23 13:41:54 · answer #7 · answered by Berry K 4 · 0⤊ 0⤋
Just show the lease and checques you payed with or the reciepts for the cash you paid.
2006-06-23 13:47:22 · answer #8 · answered by welcome_to_how_things_will_be 3 · 0⤊ 0⤋
Best thing to do is contact a attorney
2006-06-23 13:41:28 · answer #9 · answered by Leo 2 · 0⤊ 0⤋