QUESTION
Could a defaulted land contract be considered a sale?
Asked on Jul 06th, 2015 on Litigation - Wisconsin
More details to this question:
My dissolution agreement stipulated my ex was to pay me support until my (inherited) house is sold. I did not receive this support. I am supposed to pay him $50,000 when the house sells. Because of poor market, I sold the house on a 20-year land contract. I did not receive a down payment and there were only 6 mortgage payments before my buyer defaulted. Land contract is dissolved. I'm back to trying to sell the house. He claims I sold the house and owe him. Can a defaulted land contract be considered a sale?
2 ANSWERS
My suggestion is you go back to the court and ask the judge to define whether or not the property was sold. If the judge says it was sold the terms of the agreement will be enforced.
Answered on Jul 06th, 2015 at 5:09 PM
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Was it registered with the state? Did you transfer the deed? If not, it would be very difficult to prove a sale occurred.
Answered on Jul 06th, 2015 at 4:02 PM