Contract for Deed
Need help with a property issue
My wife and I took over a house from a friend in August of 2008 due to his job transfer from Houston to Nigeria. We agreed to the following terms: We will continue paying the mortgage plus a second loan attached, apply for mortgage approval, and change ownership to our name. We had a written agreement. We applied for a loan in 2009 but was not approved due to poor credit. We decided to wait and continue paying and reducing the outstanding before reapplying. In August of 2021, we reapplied and were given a loan approval to assume the house in our name. Our agent requested that we should have the other party communicate with them. I called and informed him to reach out to our agent but he kept promising to call the agent but never kept his promise. About the middle of January 2022, he stopped picking up our calls. We sent several emails and he never cared to respond. We need help on what to do next.
1 Attorney answer
You may have an executory contract under Texas law. There may be an argument to be made for an equitable title in the property. You need a lawyer to review the document to ensure compliance under applicable contract for deed or other laws. Without seeing the contract we simply have no way to know your options. Roquemore Skierski PLLC are experienced, Texas-based attorneys who support owner operated, owner-managed businesses and entrepreneurs with a full range of legal services. We believe we help clients achieve measurable financial goals by providing practical yet sound legal advice. Review our Google reviews at https://g.page/r/CWfqItvpB8gWEAE.