We're thinking of doing a contract-for-deed. My wife is concerned that in the future he "might" be found mentally unfit. My question is how would this potentially affect the contract and would we have to return any monies collected? I would think to avoid any discrimination issues, we could simply put a blurb in the contract about being mentally fit, or is this a "non-issue"?

Who might be found mentally ill ?

What?

If you believe the seller might be mentally unfit, they I would walk away.

It is not that they may mentally unfit latter, it is if they are unfit now, is there a reason to believe at the date and time of signing the contract they are unfit

If I am mentally stable today, and sing a contract that contract is valid 10 years from now if I am crazy then