Legal Question in Real Estate Law in Arkansas

AR property sold with basic fill-in-the-blanks Contract Of Sale. States pymt 15 days late is reason to termination. Also states can be terminated with written notice to vacate. 2 separate purchasers. 1 defaulted over 2 yrs ago. 1 is speaking of defaulting now because house was rented and renter died. House is empty and needs work to rent again. 1 party does not want to pay for fixing it up or pay installment while empty. Reason is, they have put enough money into something that will not be wholly theirs once paid off. Document was filed in courthouse but signatures were not witnessed by notary. Local agent used said it was fine because we are 300 miles away and one purchaser is 50 miles away. I need to know my options. Is written termination all that is necessary since the document states that but it is also filed in the courthouse. This will be the fourth time it has been in breach since entered in to. Certified mail after first 3 stated there would be no more warnings. It has also been in breach for the entire period that the second person has been in charge due to the insurance not listing property owner. Any assistance will be greatly appreciated.

Asked on 10/02/15, 12:24 pm

1 Answer from Attorneys

Ric Orintas Real Estate Attorney Of Arkansas

Please contact me at 501-258-0107...

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Answered on 2/13/16, 8:11 am

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