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Marsha411JD, Attorney
Category: Legal
Satisfied Customers: 19673
Experience:  Licensed Atty, 29 yrs exp in the practice of law.
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A friend of mine entered into a verbal contract to buy a small

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A friend of mine entered into a verbal contract to buy a small house and the property it's on,on a rent to own basis he thought he had it nearly paid off but now the owner says that he also owed 8.5% interst on it and still owes as much as he' s already paid even though there was no mention of interest to begin with can he fight this his brother entered into the same agreement at the same time and is getting the same spiel. Can the two together win the rights to the property
Submitted: 5 months ago.
Category: Legal
Expert:  Marsha411JD replied 5 months ago.
Hello,Thank you for the information and your question. There is a rule of law that is called the "statute of frauds" which Wyoming follows (as do all states), and which essentially says any contract for the sale of real estate must be in writing and signed by the parties in order to have a valid contract. In other words, a verbal contract is not enforceable when it comes to the sale of real estate. So, there really isn't any contract here. That means that unless the parties now reduce this to writing and signed the agreement, there is nothing that either party can enforce. Your friend can't force the sale and the other party can't demand more payment. I would recommend that your friend hire a real estate attorney to help them come up with some solution here if they still want the property. If they have already paid money that was supposed to go to the purchase, then the attorney may be able to argue unjust enrichment or detrimental reliance to try to get the sale to go through. Then they will have to negotiate the issue of what the amount is and whether it includes interest. Please feel free to ask for clarification if needed. If none is needed, then if you could take a moment to leave a positive rating in the box above, I will receive credit for assisting you today. Thank you
Expert:  Marsha411JD replied 5 months ago.
Hello again,I wanted to touch base with you and make sure that you did not have any follow up questions for me from the answer I provided to you on the 16th. For some reason, the Experts are not always getting replies or ratings (at the top of the question/answer page you are viewing or in the pop up box for this question), which is how we get credit(paid by the Site) for our work, that the customer thinks have gone through. In your case I received neither.Please keep in mind that I cannot control the law or your circumstances, and am ethically bound to provide you with accurate information based on the facts you give me even if the news is not good. If you are having technical difficulties with reading, replying or rating,please let me know so that I can inform the Site administrator.Please note that Site use works best while using a computer and using either Google Chrome or Firefox. In any event, it was a pleasure assisting you and I would be glad to attempt to assist you further on this issue, or a new legal issue,if needed. You can bookmark my page at: you.

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