Legal Question in Real Estate Law in Ohio

I currently have an attorney who does not seem to be responding to my issues and am worried about my exposure on a land contract problem. It is a very long issues, but in a nutshell, my land contract expired two years ago, we just verbally agreed to go keep going month to month. I decided to move and put my houe up for sale, during that time my house had water damage. I received the first check from insurance, and deposited it in my savings account thinking I would just sell the house as is, give the land contract holder his money and be done. A few months later, the land contract holder offered to take the house back as is (the land is worth a lot), and we verbally agreed to everything and performance wa done by both sides. He then found out about the insurance check, which he knew I had because he was mortgagee on the policy (I did not know that at the time). He now wants all the insurance money and is considering legal action against me for depositing the check without his signature, which I did not even think about since I was just going to at the time pay off the land contract when the property sold. So here are my questions. What am I liable for with not getting his signature on the chech that had both our names and now that he wants almost $71,000 plus the property, which would in essence pay him over $100,000 more than the property is worth, what are my rights? We made a counter offer to him of $30,000 of the $53,000 insurance money and all the appliances that did not come in the house when I bought it (todays value about $15,000). Any suggestions? My attorney is not responding as I said and this has drawn out for over 3 months since the original verbal agreement.

Asked on 10/26/09, 9:45 am

1 Answer from Attorneys

J. Norman Stark J. Norman Stark , Attorney, Architect

Dear Troubled Land Contractor: Please contact experienced real estate counsel ASAP to assis you with resolviong this problem. You certainly have rights and are entitled to aggressive representation.

Unfortunately, there is not enough space or time to fully anser your inquiry here - you must seek consultationat once.

Good luck!

Sincerely J. Norman Stark

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Answered on 10/31/09, 10:25 am

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