How to get money owed from selling property?

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How to get money owed from selling property?

My grandma sold 20 acres of land to her son and his wife 3 years ago for $100,000. It was agreed and put in writing they would pay it in thirds for 3 years in January. They paid the first 2 payments fine. Now they are 6 months late on the third payment. They told her today that they would pay her $3,000 this month then wanted to decide what they wanted to pay her each month based on what they thought she needed. What should be done in this situation?

Asked on June 6, 2019 under Real Estate Law, Ohio

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 1 year ago | Contributor

They violated their contract: your grandmother could sue them for the final payment, for "breach of contract" (violating their agreed-upon obligations). Based on what you write, if she does, she will likely win and get a judgment (essentially court order) that they pay the full remaining amount at once. 
She should sue. If she is willing, the lawsuit could be settled (resolved) by a new payment plan which, because it is settling a lawsuit, will be fully and easily enforceable by her and which could contain penalties for breach, to encourage them to comply (e.g. it could allow them to pay $3,000/month, with a provision that if they miss a payment, the full remaining amount, put a late fee or penalty, comes due immediately).


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