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joymorningstar2 · Joined: 02 Feb 2011 Posts: 1 1.43 Dollars($)

Contracted by owner and sign by notary, unmarried couple living together signed contract and agreed to terms of contract.
Contract stated:
Should maker become in arrears for a period of 60 days, payee may exercise his option to repossess said property, after due notification of intent to Maker.Should such action become necessary, all monies paid to the point of default shall be considered forfeit and the property shall be released for resale. Maker shall be responsible for all taxes and maintenance fees during terms of this document.

One Maker now wants to be taken off contract, maintenance fees are one year late and Maker has repeatly been ask to pay these fees and taxes with no action. What should I do?

gmakerley · Posted: Wed Feb 02, 2011 9:28 am Post subject:

Since the "Maker" is in default, it would seem that you might want to take action as stipulated in the contract. Each "maker" is liable for the debt, regardless of one of them desiring to be "taken off contract."

Do you want to "respossess"? If so, begin that process. What kind of property are you talking about?

Posted: Wed Feb 02, 2011 11:58 am Post subject:

The property is 20 acres which had a home half finished, supplies for additional building. Maker finished home and living in it.

gmakerley · Posted: Wed Feb 02, 2011 2:06 pm Post subject:

I thought maybe it was a peculiar type of property - nothing peculiar about that, I guess.

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