How do I get remainder of payment or reposess
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How do I get remainder of payment or reposess
My sister and I agreed to sell our parents home for $15,000 with the buyer paying 50% down and the remainder due in 6 months. I have given her several chances to make the additional payment but to no avail. She simply will not pay and I believe that she is currently renting the home out, which I believe is against the law. What can we do to get her to pay the remaining $7,500 or turn it back over to us?
Asked on May 21, 2018 under Real Estate Law, Georgia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
If you gave her an actual private mortgage stating that you could foreclose if the mortgage were not paid, you may foreclose now the same way that a bank could; speak with a real estate attorney about his.
If you transferred title to her already without her first having signed an agreement (e.g. a private mortgage) stating that you could foreclose if not paid, then you can't take the home back, but you can sue her for the money for breach of contract: that is, for violating her agreement to pay for the house. You can only recover title from another for nonpayment when there was a written agreement (e.g. mortgage) saying you can do this.
If you did not transfer title to her (i.e. it was not going to be transferred until payment was completed), then you can evict her from the the home--without title, she is not an owner, but is a tenant renting to own, and tenants may be evicted when they do not make the agreed-upon payments. Evicting in a rent-to-own situation can be procedurally complex: you are advised to retain a landlord-tenant attorney to help you.
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