Legal Question in Real Estate Law in Iowa

Put down payment and signed a landcontract that went unrecorded a year later finding out the bank is foreclosing on seller. The bank wants us out and calls us parties in possession and refused the land payment after the seller told us to pay them also told us the bank would honor it but they won't so do we stay and fight do we have rights if the seller was fraudulent by selling this land and house on a unrecorded land contract that we never defaulted on, and signing the contract in his name as oppose to his company which the deed is under? Do we have any rights to stay and not get evicted or foreclosed on we don't want it to go on our credit but we have invested a lot into the home and property including insurance and repairs. PLEASE HELP! have 2 children WHAT are our RIGHTS??


Asked on 5/22/14, 9:55 am

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

This should not affect your credit. Unfortunately, even if the seller had recorded the contract, the lender likely would still have the right to extinguish your interest in the property. If you are able to obtain financing, there is a chance that something could be done. I would suggest that you take all of your documents to a real estate attorney in your area.

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Answered on 5/22/14, 12:19 pm


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