Alabama | Real Estate Law
Legal Question
Can an illegal substance such as cocaine be used to satisfy the requirement of
During the early 1980's, I purportedly conveyed title to my home to a convicted drug-dealer for two (2) ounces of cocaine. My home was appraised at $35,000 then, the two ounces was $2,000 each. I was actively using cocaine and the dealer and I agreed that the property was simply collateral for the drugs repayment. Subsequently, the dealer was arrested, convicted and sentenced. While he was incarcerated I entered rehab. Later, I attempted to locate him to get my property cleared. I couldn't. Now he is attempting to foreclose on my property, unless I repay him the drug money, plus interest since 1984 for a total of approximately $18,000. Question. was the drug received good and valuable consideration under Alabama law? Is it possible that the transaction is unconsciousable or violative of public policy under Alabam law?
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Read More Answered By: David Forrester |
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