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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 110543
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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yes, i want to know if i can use my forced overages to stop

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yes, i want to know if i can use my forced overages to stop the cancellation of the bond for deed?
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

Whether or not you can use the forced overages towards your past due payments to stop cancellation of the bond for deed depends on your bond for deed contract. If your bond for deed contract does not restrict the use of the overages, then yes, you can indeed ask them to be applied to any past due balance. However, if the contract states the overages are specifically held for taxes and insurance, then legally they cannot apply them to past due payments. Thus, you need to start by reading your bond for deed contract to make sure it does not specify overages are held for a specific purpose and if it does not then you have a right to ask for it to be used to pay your amount past due.

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Law Educator, Esq. and 2 other Real Estate Law Specialists are ready to help you
Customer: replied 3 years ago.

mr paulMJD


if grantor in a bond for deed contract, instructs the finance company to refuse grantees payments, from grantee and refuses certified mail return receipt requested addressed to the grantor personally, would this be considered a breech of contract? If so what recourse do i have under the law as grantee? please remember i have received a demand letter from her attorney stating her intent to cancel the said bond for deed,due to 3 months behind, said money has already been paid in forced overages.

Thank you for your follow up.

Yes, it would be a breach of contract for the grantor to do so. Before the grantor could refuse payments he would have to have notified the grantee that the grantee was in breach and would have to give the grantee a reasonable time to cure that breach. You need to respond to the letter with proof the money has already been paid in the forced overages and tell the attorney her client is the one in breach of contract now in bad faith for refusing to accept the payments and you intend to pursue him for bad faith if he does not cure this breach.
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