I recently signed a contract for deed. The person selling the house signed all the paper work, but then I found out that he is not the only person on the actual title. His name is the only one on the mortgage through the finance company, but the place is to be titled in his and his wife's name. So I am just wondering if this is still going to be legal since she didn't sign the contract for deed. I also found out he did not contact the finance company and let them know about selling under a contract for deed? I live in Missouri, and now am I wondering if any of it is actually leagal know?

Hello dv:

If his wife didn't sign, it would be my opinion that the contract isn't valid. The fact that he didn't contact the finance company is a good thing, though - cause they'd call in his loan, and you'd be on the street.

I would seek the advice of a real estate attorney. Hopefully, your arrangement isn't too much different than an ordinary lease, because I think you'll walk away with nothing it the end. I suspect that's the case, because most people who buy on a contract don't have large cash for down payments.

excon

They do not have to notify the mortgage company on the home, no reason to, as long as they pay off the mortgage while you are paying them.

The wife issue is a problem, I would ask for her to sign either a new one or an amendment to this one.