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legal ramifications

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wantingout Guest	Posted: Sat Jul 30, 2011 7:50 pm    Post subject: legal ramifications Like 0 Dislike 0 We bought a home land contract and ended up with a lemon. We have decided after 10k in improvements in 2 years we wish to be done with this place. We have attempted to sell and then removed our names from the deed with a quit claim. Since then, the owners removed our listing and got their own and raised the price. The home is not selling and via email they have acknowledged us as renters and that they would be taking the tax credit. There is nothing in the contract that speaks of a situation where we may vacate the property except for lack of maintaining the property. We plan on giving our 30 days notice with our first of the month rent check. Are there legal ramifications if we leave? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Sun Jul 31, 2011 8:46 pm    Post subject: Like 0 Dislike 0 Hi Guest, I don't think there would be any legal ramifications if you leave the property. However, it will be better if you could contact an attorney and take his opinion in this matter. He will better guide you whether or not there will be any legal ramifications. Thanks
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Mon Aug 01, 2011 9:12 am    Post subject: Like 0 Dislike 0 I think I read your opening correctly - you no longer own the home because you transferred ownership - right? You now pay rent to the folk who you transferred the title - right? Why would they not allow you to move out? Though you may have signed a lease or rental agreement (you didn't say), I'm sure that moving out is still an option at pretty much any time. If you have serious questions about legality, your best bet is to sit down with an attorney and pose those questions. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Mon Aug 01, 2011 9:13 am    Post subject: Like 0 Dislike 0 You will not get appropriate legal advice on this website. That is something you must understand here. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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