Legal Question in Real Estate Law in Kentucky
Land Contract question
I sold a house on a land contract 2 yrs ago. The buyers are in the process of obtaining a bank loan & will be paying me off. I've been told we will be closing at the end of this month, April.
The buyers have always paid me on the first of the month except for this month-April, because the bank told them they didn't have to make another payment to me since we're closing this month.
Is this information correct or should I request them to make the April payment?
Thank you
1 Answer from Attorneys
Re: Land Contract question
The answer to your question depends upon the wording of your contract for deed. It is impossible for a lawyer to advise you of your rights and responsibilities created by a written document, when he has not seen the document.
You are best advised to take the document to an attorney in your area familiar with real estate law.
You can telephone or email the Kentucky Bar Association for an appropriate referral.
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