Hi: Can a seller sell a piece of property to a third party while the property is under contract for deed. The property is in Florida, and there is no provision in the contract for the seller to sell the property. Not merely just transferring the note, but actually transferring the property.

Thank you

No. Even though the seller retain title to the property until the debt on it is paid, you have an equitable interest in that property. I hope that the Contract For Deed was properly prepared AND recorded. If it was not recorded, the seller could accomplish a sale to a third party, because the previous instrument would not show up in a title search. It might be time to consult a good real esate attorney. :)

Thank you. It was recorded and what he did was form a new company and then sold it to the company. I learned of this accidentally four months after he made this transaction. I did consult an attorney, however, since it is not a huge amount of money to most people, the attorneys fees aren't feasible. I tried looking for case law so that I can sue him for the return of my money, but I cannot find any.

Thanks

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Originally Posted by Dr D

No. Even though the seller retain title to the property until the debt on it is paid, you have an equitable interest in that property. I hope that the Contract For Deed was properly prepared AND recorded. If it was not recorded, the seller could accomplish a sale to a third party, because the previous instrument would not show up in a title search. It might be time to consult a good real esate attorney. :)

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If it is not a large amount of money, merely sue in small claims and don't worry about case law. This is purely contract law. Have copy of the contract, get a copy that is stamped where it was recorded at the recorder of deeds. Get a copy of the paper work he did in the trasfer

Thanks, I will do just that. I had sent him the 60 days notice of intent to sue. On the 60th day, the new company filed foreclosure against me, although they have the property.
There lawyer stated that there was nothing in the contract that "prohibited" them from selling or transferring the property. I stated that that did not give them provision. The judge stated that I needed case law to support my position.

Thank you again

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Originally Posted by Fr_Chuck

If it is not a large amount of money, merely sue in small claims and don't worry about case law. This is purely contract law. Have copy of the contract, get a copy that is stamped where it was recorded at the recorder of deeds. Get a copy of the paper work he did in the trasfer

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