Contracts
Agreement Of Purchase And Sale
Texas
could the owner finance seller still be able to change the maturity date payment term of the contract post signature.
I sold my mortgage home by owner finance in 2016. It has 15 year maturity date term.
Answers from 2 Lawyers
Answer
Contracts
Texas
Max N.
ContractsCounsel verified
Hello! Just to be clear, I am not licensed to practice in Texas, but I am a licensed attorney in Oklahoma. I have seen this question be unanswered for a while, so I thought I'd respond. Typically, once the parties have both agreed (by writing and signing) terms of a contract, including a maturity date for payment, the maturity date can only be changed by all parties in another signed writing. That means that one party (such as the owner finance seller) should not be able to change the payment terms of an agreement without your express approval. Hope that helps!
Answer
Contracts
Texas
Domonick G.
ContractsCounsel verified
August 1, 2022
Depends. It must be in writing unless specified in the agreement otherwise. Further, do both party mutually agree or does the original contract all for a unilateral change, per its terms.
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