We were given $10,000. In return for the sale of our non homestead property, with the understanding (verbal) that the investment company whom we sold it to would find financing for it.
We have tried contacting the person who sold it to. He won't return our calls; and we have been contacted by the mortgage company that the property is still in our names. They have not paid the note on time. And it is causing our credit to suffer. Also upon looking over the public record files there is a quitclaim deed listed that shows where a notary witness our signature. We did not signe any papers before a notary.
Also, we have discovered that our ,mortgage papers had a clause stating that we could not sale the property. What are we to do now?:confused:

ANY time you have a mortgage on a property, the mortgage holder has a lien against the property. That means it can't be sold without them being a party to it. In a proper real estate transaction there is a closing where a title company oversees the transfer of property and makes sure everyone is paid.

If the property is still in your name and an invalid quit claim deed was entered, then you still own the property. Bring the original note current. If the person who paid you the $10K didn't handle the transaction properly that's their fault. You have their $10K AND the property.

The worst that can happen is they sue you to regain the property. At that point you countersue for the costs or bringing the note up to date. Your legal grounds is that they breached the contract by not paying off the note and legally transferring the property.

And next time, consult an attorney before you enter a deal like this.