Legal Question in Real Estate Law in Arkansas

I loaned my son $800,000 to purchase a restaurant in Orange, CA. in 2006

I filed a UCC-1 on the loan, and renewed the document via a UCC-3 in 2011.

My son was forced to sell the restaurant in 2013.

The Buyer was to pay $200,000 by the transfer of the restaurant, and 4 ea. $50,000 payments to have followed at 12 mos., 15 mos., 18 mos., & 24 mos.

The Buyer has not fulfilled his obligation and my son cannot afford to go after the Buyer legally.

Forcing my son into bankruptcy is not reasonable. What recourse do I have?


Asked on 4/08/15, 2:27 pm

1 Answer from Attorneys
R. J. Orintas, Sr. ORINTAS LAW FIRM

Contact an attorney about your rights in CA or where the "Buyers" live...

Read more
Answered on 5/27/15, 4:59 am


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