Legal Question in Real Estate Law in Minnesota
property ownership
If I had a contract for deed and was making payments to the bank but have not been able to make the payments since my house burned how long does it take for the property to go back to the owner? I am being billed for property taxes but someone else is paying them. Don't I have a right to know who is paying the taxes? If someone else is paying the taxes and I am not receivng any statement of past due house payments am I responsible for the up keep of the pro;erty?
2 Answers from Attorneys
Re: property ownership
If you have breached the terms of the Contract for Deed, the seller may cancel it by sending you a Notice of the Cancellation.
In many instances where there is a secured party, the secured party will monitor and/or pay the taxes to ensure that their security interest is preserved.
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Re: property ownership
Most likely the bank is the one paying the taxes because they don't want tax liens filed against the house. This doesn't absolve you from keeping up the property, if you don't want to keep the house, you need to work with whoever you have the contract with to return it. You may find it helpful to consult a local real estate attorney.
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