What are my legal responsibilities when leaving a contract for deed? It goes til 2015 but we want to leave the contract early & buy something

Asked by brettcharitynick, Cottage Grove, MN Thu Sep 6, 2012

else. (It is a standard contract for deed)

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Answers

3
Steve Vennem…, Agent, Pine Springs, MN
Mon Jun 10, 2013
Ask the owner if you can sign over the home back to them. They will have to pay for lawyer fees if you stop paying. Most owners will take home back if they don't usually the only remedy is the home and if the home is damaged.

http://www.nationwidecontractfordeeds.com

If you are in Minnesota or Wisconsin we can help you sell your house and you can keep the equity if there is any.
0 votes
Elizabeth Fu…, Agent, Wayzata, MN
Thu Sep 6, 2012
call the consumer line at the mn office of the attorney gewneral's office. Good luck! Liz 612-986-4105
0 votes
Cameron Piper, Agent, Forest Lake, MN
Thu Sep 6, 2012
Brett,

Unfortunately, the scope of this question is beyond what is reasonable to discuss in a Trulia question.

The correct answer to your question is: it depends on what was agreed to in your current contract for deed. The only real way for myself or another agent on Trulia to answer would be to have you post all of the intimate details of your contract online for the world to read.

My best advice would be to take the contract to a local attorney who specializes in C4D's (or at least has done a couple in the last couple of months) and have him/her review it for you. It may cost a few bucks, but what you are proposing could have far reaching financial consequences so it makes sense to have a pro review it for you.


Cameron Piper
Coldwell Banker Burnet
licensed MN Broker
612-839-4202
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