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Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 54024
Experience:  32 years of experience practicing law and a businessman.
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We wish to terminate a Contract for Deed because of non-payment

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We wish to terminate a Contract for Deed because of non-payment of monthly obligation by the buyer. Short of foreclosure with a friendly agreement, what form can I use and will it be effective under all circumstances

Good evening. Since this is a Contract for Deed, you need not foreclose because you still have the title. All you need to do is evict them. Since they are in default for nonpayment, you will simply need to give them a 5-Day Notice to Quit...meaning they must vacate within that period or face formal eviction. Then, if they still have not left, you must file a petition for an eviction order. Once that is granted...you can have the sheriff evict them. You may then file a claim against them for all unpaid amounts and damages.

 

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

 

Customer: replied 5 years ago.
From what you say, the Contract For Deed "remedies" are the same as a land-lord/tenant relationship with regard to non-payment? This is Oklahoma Law?
Yes, exactly, because once they have defaulted, that's all they are. Yes, this is applicable for Oklahoma.
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