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    Melissaebl's Avatar
    Melissaebl Posts: 2, Reputation: 1
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    #1

    Jun 7, 2013, 08:36 AM
    Owner Breaking Contract
    Got a question. We have a legal contract for land contract registered at the court house. We have paid on a 10year agreement for 5 years now didn't miss any payments paid everything like we should have. Now the seller wants out of it. He said the income puts him in a higher tax braket and don't want it any more. He wants to sign it over to his son and let his son keep the money. His son has a lien against him for taxes and for a four closer on another house. Is this legal? Can he just change his mind in the middle of a contract?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jun 7, 2013, 08:46 AM
    No, no one can change his mind and walk away from a contract. I trust it's iron clad, prepared by an Attorney?
    Melissaebl's Avatar
    Melissaebl Posts: 2, Reputation: 1
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    #3

    Jun 7, 2013, 08:49 AM
    Quote Originally Posted by JudyKayTee View Post
    No, no one can change his mind and walk away from a contract. I trust it's iron clad, prepared by an Attorney?
    Yes it was done by an attorney. I know he can sell the contract to companies right? But I don't see how he can sign it over to his son just because he don't want the higher taxes. All they keep telling me is he wants out of it. His son wants us to put it in our name and then pay him payments. I don't get along with his son or his wife. So I don't want to be paying them.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #4

    Jun 7, 2013, 09:12 AM
    I would do nothing without an Attorney - the only way to change a written contract is with another document in writing.

    He is tied into this contract until (if and when) another agreement is reached.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #5

    Jun 7, 2013, 09:15 AM
    But why should they pay a lawyer for something they can ignore? They don't like the son.
    Just say no.
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