Legal Question in Real Estate Law in Indiana

Purchase by contract

We are purchasing a home in Indiana on contract. The owner is elderly. If he and or spouse pass away what will be the status of this contract. Contract is $95,000 down $2000/month x 15 yrs. Want to make sure we are not placed in a situation that in a few years we will be expected to pay hundreds of thousands of dollars immediately

Asked on 1/08/08, 7:41 pm

1 Answer from Attorneys

Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Purchase by contract

You should have an attorney draft a rider that will effectively protect you.

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Answered on 1/08/08, 8:09 pm

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