Ask Experts Questions for FREE Help !
Ask
    junomich's Avatar
    junomich Posts: 6, Reputation: 1
    New Member
     
    #1

    Jan 6, 2009, 01:51 PM
    Can a seller sell a piece of property to a third party
    Hi: Can a seller sell a piece of property to a third party while the property is under contract for deed. The property is in Florida, and there is no provision in the contract for the seller to sell the property. Not merely just transferring the note, but actually transferring the property.

    Thank you
    Dr D's Avatar
    Dr D Posts: 698, Reputation: 127
    Senior Member
     
    #2

    Jan 6, 2009, 02:10 PM
    No. Even though the seller retain title to the property until the debt on it is paid, you have an equitable interest in that property. I hope that the Contract For Deed was properly prepared AND recorded. If it was not recorded, the seller could accomplish a sale to a third party, because the previous instrument would not show up in a title search. It might be time to consult a good real esate attorney. :)
    junomich's Avatar
    junomich Posts: 6, Reputation: 1
    New Member
     
    #3

    Jan 7, 2009, 04:57 AM
    Thank you. It was recorded and what he did was form a new company and then sold it to the company. I learned of this accidentally four months after he made this transaction. I did consult an attorney, however, since it is not a huge amount of money to most people, the attorneys fees aren't feasible. I tried looking for case law so that I can sue him for the return of my money, but I cannot find any.

    Thanks

    Quote Originally Posted by Dr D View Post
    No. Even though the seller retain title to the property until the debt on it is paid, you have an equitable interest in that property. I hope that the Contract For Deed was properly prepared AND recorded. If it was not recorded, the seller could accomplish a sale to a third party, because the previous instrument would not show up in a title search. It might be time to consult a good real esate attorney. :)
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #4

    Jan 7, 2009, 05:13 AM

    If it is not a large amount of money, merely sue in small claims and don't worry about case law. This is purely contract law. Have copy of the contract, get a copy that is stamped where it was recorded at the recorder of deeds. Get a copy of the paper work he did in the trasfer
    junomich's Avatar
    junomich Posts: 6, Reputation: 1
    New Member
     
    #5

    Jan 7, 2009, 05:37 AM
    Thanks, I will do just that. I had sent him the 60 days notice of intent to sue. On the 60th day, the new company filed foreclosure against me, although they have the property.
    There lawyer stated that there was nothing in the contract that "prohibited" them from selling or transferring the property. I stated that that did not give them provision. The judge stated that I needed case law to support my position.

    Thank you again

    Quote Originally Posted by Fr_Chuck View Post
    If it is not a large amount of money, merely sue in small claims and don't worry about case law. This is purely contract law. Have copy of the contract, get a copy that is stamped where it was recorded at the recorder of deeds. Get a copy of the paper work he did in the trasfer

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Pay for property but seller will not send me deed [ 1 Answers ]

In 1990 I purchased a mountain lot in NC. Then in 1991 I purchsed a 2nd lot from the same seller who carried the note on both properties. The first lot was paid off in 2000 and after calling the seller several times was sent a clear deed for it. The 2nd lot was paid off in 2001 but the seller did...

Mortgage holder of a piece of property? [ 1 Answers ]

How do I find the mortgage holder of a piece of property?

Private party used car seller, responsible for smog? [ 1 Answers ]

Am I responsible for the smog on a private party used car sell? I let them know up front it needs a tune up.. and that smog wasn't due until October. Aren't private party used car sells.. as is? Im in California.

Federal lien on property already in defualt to seller [ 2 Answers ]

I owe $17,000 in back federal taxes. I just had to quit my job for medical reasons, my wage had been attached. I am 6 months behind on payments to the owner of the property. There had been discussion already about them taking the property back. When we were ready to move out and move to a...

Does non-ownership by Seller of a property constitute nullilty of purchase contract? [ 1 Answers ]

Major builder/seller sells lots for houses to be built upon. Seller's agent presented four Lots from which Buyer was to choose. Buyer chose a lot, house was built, deal when through escrow, warranty deed, title policy, survey, etc. Six months later, Buyer found Out from Tax collector that he...


View more questions Search