Owner financing threatening forclosure

[ejk]

Seriously?.,,are you seriously telling me that a judge is going to allow a financier to foreclose 8 years into a 10 year contract based on nothing more than the obligors son is living in the property rather than the obligor?... with no defaults on the payments?

Come on...lets be real here.

This is what I was talking about when I said the law sometimes doesn't really follow common sense. It doesn't seem right to me, but it is something I worry about. I have an appointment on Tuesday to speak to a real estate attorney about this issue. Thank you to all that have responded to this. -EJK

 

[Ohiogal]

Seriously?.,,are you seriously telling me that a judge is going to allow a financier to foreclose 8 years into a 10 year contract based on nothing more than the obligors son is living in the property rather than the obligor?... with no defaults on the payments?

Come on...lets be real here.

It is possible because it is a BREACH OF CONTRACT if she is not allowed to transfer possession. So yeah, IT IS POSSIBLE. It is called contract law.

 

[LdiJ]

It is possible because it is a BREACH OF CONTRACT if she is not allowed to transfer possession. So yeah, IT IS POSSIBLE. It is called contract law.

Duh...

I am very familiar with contract law. OP needs to consult a real estate attorney. Just because something is POSSIBLE does not mean that its going to happen. A remedy for a breach of contract has to be reasonable and equitable.

 

[Ohiogal]

Duh...

I am very familiar with contract law. OP needs to consult a real estate attorney. Just because something is POSSIBLE does not mean that its going to happen. A remedy for a breach of contract has to be reasonable and equitable.

Not as familiar as I am. If OP signed the contract, she thought it was reasonable and equitable. Therefore unless it is unconscionable or illegal, it will be upheld.