There not making payments and I am takeing them to court... will the judge rule in there favor and give them the house.. even though we made the payments...

Why would you possibly think that. What does the contract say about defaulting on it?

If the contract was written properly it should state that if they don't meet the contractual payments they forfeit the property. That's basic contract law.

Quote:

---

Originally Posted by ScottGem

Why would you possibly think that. What does the contract say about defaulting on it?

If the contract was written properly it should state that if they don't meet the contractual payments they forfeit the property. That's basic contract law.

---

Well it is written properly and it was noterized but they keep saying that there taking the house it's a big mess I just wanted another opion and yes you said what I thought you would... that they don't have a leg to stand on...

Quote:

---

Originally Posted by tonyaj029

well it is writen properly

---

Hello t:

Who wrote it? A LAWYER? You?

excon

Actually, depending on where you live, they may have a leg to stand on. In Texas, for example, doing "Contract for deed" transactions, or "rent to own" (as they're commonly called) was highly restricted several years ago.

Where are you (the property)located, when was the contract initiated? Can you give more details?

Quote:

---

Originally Posted by rockinmommy

Actually, depending on where you live, they may have a leg to stand on. In Texas, for example, doing "Contract for deed" transactions, or "rent to own" (as they're commonly called) was highly restricted several years ago.

Where are you (the property)located, when was the contract initiated? Can you give more details?

---

We live in Kentucky

I'm sorry, I'm not familiar with Kentucky's laws, but I would strongly encourage you to find someone who is. These types of transactions have come under a lot of scrutiny in recent years - severely limiting them, regulating them and in many cases making them illegal altogether.

I'm sorry I don't know any specifics about your state, I just wanted to throw that out there. They may have more rights that you realize. What's happening here (and I actually know a couple of property investors this has happened to) is that there are such stiff penalties imposed on the "seller" if they're not following proper procedure that they can't pay, so by way of settlement they're having to deed the property over to the "buyer".

Sorry but the only rights they have are the ones listed in the contract. Also notorised has nothing to do with it expect to prove who signed it.

If it was written properly, the day they went into default, it would have went from purchase to rental. And then you merely evict. I have used them for 30 years to sell many / or most of the properties I have. Including KY.

I would have course use an attorney, ( hopefully the one that wrote up your contract)