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KimberlyLaw, Attorney and Real Estate Broker
Category: Real Estate Law
Satisfied Customers: 4195
Experience:  13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.
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I got a loan on a mobile home employee (husband and wife

Customer Question

I got a loan on a mobile home for my employee (husband and wife "tenants") 16 years ago with the understanding they would pay the loan back. I thought I had cosigned, but title is in my name.
They have been not paying lately and the lender is after me. I told the tenants I would pay off the trailer if they give me title to the land it is on, so that if they default in paying me what is owed on the trailer I could sell it and get my money back. I was going to sell it back to them with a note and mortgage. They did warranty deed the property to me and at closing I paid 3 years back property taxes.
They have not made a payment towards the trailer, or insurance or anything for about 3 months now, and I am reluctant to give them a note and mortgage knowing they will not pay me, or the insurance or the taxes, and foreclosures take a lot of $$ and time.
I am considering a, unrecorded "contract for Deed". Unrecorded because that allows them to get Homestead exemption, at least as I understand Florida homestead exemption laws (Advisory Legal Opinion - AGO 74-363).
My question is if it easier to "evict" under this type of purchase agreement? If not, is there another method where they are paying towards getting the title, but upon a default it's easier to evict?
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  KimberlyLaw replied 3 months ago.

Hello, my name is ***** ***** I am an attorney. Happy to assist.

I don't see a reason to enter into any further agreement with them. They are tenants and have to pay you monthly payments. If they fail to do so, you should evict them. That is way easier than trying to foreclose or create some other relationship of rent to own.

The loan is in your name, the title is in your name, and the property title is in your name. You shouldn't have to have your own credit suffer because they aren't paying you. I would go ahead with the eviction. That would be my call.

Let me know if you have any questions about this.



Expert:  KimberlyLaw replied 3 months ago.

Hello, This is Kim, the attorney who assist you last week.

I see that this question is still open. Please go ahead and rate my answer with positive feedback. The top three ratings will make sure that I get credit for my work with you.

Thanks so much and take care,


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