If I sold a house on a contract for deed, can the buyer resell it on another contract for deed?

Asked on November 7, 2011 under Real Estate Law, Minnesota


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you sold the home that you had to a buyer where I presume that there was a seller carryback where the new buyer is paying off the pruchase of it to you over time you need to carefully read all documentation concerning the sale to see if the new buyer can do the same with another buyer where the money owed you will continue being paid over time or is due immediately upon the sale.

Given the uncertainties about the situation that you have written about, I suggest that you consult with a real estate attorney and have him or her review the purchase agreement, promissory note and mortgage (trust deed). Good luck.

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