My patner is telling me that he did not sell the property because he got cash plus a note. And since the note is not paid, he might get the property back. The real estate agent is the one that told me it was sold, and closed thru the local title company. The document he signed and was filed was called a Watanty Deed with vendors Lien. I found out he leased back the property from the buyer at a lower than market deal. Did he sell the property?He told me not to contact the buyerr, because it might screw up him colleccting the receivable.He is still saying that he is going to pay me back more if he can collect the receivable from the buyer for $500k. Crazy!So you would chose the option to sue. Right?
State/Country relating to question: Texas
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I would sue....Your real estate agent is right...he sold the property. Taking a vendor's lien does not prevent it from being a sale. This is basically what happens to any property when sold when there is a lender involved. The fact is that however he sold it, he had no permission to sign anything regarding your interest without you.
Texas lawyer for 32 years; Also RE developer
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