In the final process of closing on a land contract, do I still have to make payments until it is finalized?
I have been on a land contract for 7 months and I am in the final process to close, should close on Monday or Tuesday. I pay the landlord on the 9th of each month, but did not this month, because I knew we would be closing. Now they say that I have to pay the rent that was due the 9th through the 20th. Can they make me still pay on this contract when I am about to close?
Answers:
Yes-you're under the contract until the date of closing. Failure to pay could cause this closing to be terminated. Don't take the chance. I do some real estate law and have a case in court now that involves forfeiture of a real estate contract for late payments. The risk to you is too great if you don't pay.
The answers post by the user, for information only, FreeLawAnswer.com does not guarantee the right.
Answer question:
More Law Questions and Answers: