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    caracasa's Avatar
    caracasa Posts: 1, Reputation: 1
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    #1

    Jun 12, 2013, 09:38 AM
    Owner financing laws in Tennessee
    My husband and I are doing owner financing with our house. The house is in our name. The person that we are buying the house from is saying that we owe her 2 months of house notes and she is trying to take the house from us. We paid with cash and received no receipts.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jun 12, 2013, 09:54 AM
    It will be your word against her word. You will have proof you withdrew the money, bought a money order, wrote a check.

    She will argue you gave her nothing.

    A Judge will decide.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jun 12, 2013, 09:55 AM
    You paid with cash for house payments and didn't get a receipt? Not a smart thing to do.

    Unless you can prove that you made those payments, she can foreclose. You need to read the terms of your mortgage. If the deed is in your name, this is a mortgage and not a contract for sale. Which means she has to foreclose, which means going to court. It might be cheaper just to pay the 2 months.
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