Maryland | Real Estate Law
Legal Question
Default on a contract
I sold a piece of land, the contract was owner financed. We recieved a down payment of $1000 plus $800 toward taxes and no other payments. They are 11 months in arrears as of Nov. 21, 2005. The contract does state,
''Default. I will be in default under this Note if any of the following happen:
Payment Default. I fail to make any payments when due or paid up-to-date by November 21st of each year under this Note or I fail to pay all back Taxes and Water/Sewage bills and keep them paid up.'' (contract was signed and notorized)
How do I deal with the default. The property is still in my name but I want to make sure there is no other steps to take. I cannot seem to contact the other party. I have sent Certified letters, they are refused. Thank you for any assistance you can provide.
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