If alease to own buyer has defaulted on his payments with a worthless check, what recourse do I have?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If alease to own buyer has defaulted on his payments with a worthless check, what recourse do I have?

Asked on November 10, 2011 under Real Estate Law, Alabama

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

If the payment to you by the lease to own buyer was for rent, I would write him a letter demanding that the payment be made good in a certain period of time, keeping a copy for future need.

If the time comes and goes without the payment being made good, I would either serve the tenant/buyer with a notice of eviction for breach of the agreement to pay or a three day notice to pay or quit if you want the person to actually live in the unit down the road.

If the check was for actual payment for the purchase of the property, I would make a demand to cure in writing and if not done so, consider a breach having happened and consider a notice of default on the presumed loan and mortgage. I suggest that you consult with a real estate attorney about your situation. Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption