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Recent Redemption questions
This might be a sub-topic of "real estate law" as well. Here
Hello - this might be a sub-topic of "real estate law" as well. Here it is: I live in Minnesota. I'm in my 5th and final year of paying off a Chapter 13 bankruptcy. I had a mortgage through Wells Fargo on*****NE, Owatonna, MN 55060 that my now ex-wife and I resided in (she has to be moved out by month's end). The loan was in my name only, while the deed contained both our names. The home was foreclosed on (Sheriff sale completed). The bank is now selling / auctioning it off here: https://www.auction.com/details/355-ne-15th-street-owatonna-mn-55060-2130764-o_871/?utm_source=;digitalmarketing;&utm_medium=;listings;&utm_campaign=;zillow;redemption;co.steele_s.mn;aug16;&utm_term=;affiliates;fk59221;wro;o-871As you can see bidding ends tomorrow.Current pending situation (the issue): My parents are willing to pay cash for a home for me in Mankato, MN. The title / deed would be exclusively in my name. It would be my primary and only residence. My parents do not want their name on anything (they don't want to be a land-lord, or own a 2nd home, etc). I will be paying my parents monthly payments rather than a bank.My concern contains 2 points: 1) The foreclosed home & Wells Fargo, and 2) the CH 13 bankruptcy - Is there anything to be concerned about.....or any possibility that points 1 & 2 could put the new home in Mankato in jeopardy? Is there any way that anyone from points 1 & 2 could render any claims or liens against the Mankato home?Lastly - If I do get the Mankato home and I die or become incapacitated, who could the property go to? I have 2 kids (age 8 and 10) and 2 ex-wives (child w/ each). What type of document would be required to ensure that the property would legally go to my parents? Thank you.
I received correspondence from a collection agency regarding
Hello,I received correspondence from a collection agency regarding a $41,287.69 outstanding balance owed to a mortgage company. We settled for an $11,000 payment. The debt collector sent me the below letter regarding our agreement. I need a professional opinion."We are currently willing to accept a single payment of $11,000.00 as settlement on the above balance owed of $41,287.69,with no future liability/deficiency balance. This offer is good until end of business 08/31/2016, and thereafter thesettlement amount is subject to change. Your acceptance of and performance under this offer assumes that the underlyingdebt remains unsecured. To the extent that the lien previously attached to this property is revived under any redemptionpayment or by other operation of law all sums paid will be credited to the unpaid principal balance, but Veripro will beunder no obligation to release your lien."Thanks,Rogers
I am being pushed out of an LLC that I am a 30% partner in
Hello, I am being pushed out of an LLC that I am a 30% partner in (3 partners total including me). There was a dispute over a substantial amount of money in the business account being transferred into the majority partners personal account as well as another account for a business he owns 100% of with no discussion amoung partners. When I questioned him about it we had an arguement which led to me being given a securities redemption agreement in which the price for my shares is ridiculously low. I mutually want to resign from the company however have been threatened that if I don't take the low ball offer I will be voted out of the company by a 2/3's vote. I have not taken a draw from profits in a couple months and The fair value of my shares is far more than what is being offered. Here are my questions:Is it legal for the partner that owns 60% to move company profits into his personal accts?The scope of work is not defined in our operating agreement and I am not in breach of what the agreement does state as "cause" for removal. Are there any other legal grounds in which I can be voted out of the company without compensation or what is owed?FYI this business is based in GAAny advice that can be offered would be greatly appreciated!
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My house has been in foreclosure a time. Chase has
my house has been in foreclosure a long time. Chase has repeatedly postponed the sheriffs' sale, for whatever reason I don't know. but many times. Just recently I discovered, by checking with Chases local attorney for whether it was to be postponed again or not, that the foreclosure had been , in their words "cancelled", that the property is not in foreclosure anymore. When I called Chase someone there told me their limited records showed "foreclosure suspended". My question is as to whether at any moment I can receive a new , near-term sheriffs sale notice, or if when the foreclosure has been suspended, does the mortgage company have to start over again, IE bill me, see if I go into default, then serve notice of intent to foreclose, proceed with foreclosure, the ensuing redemption period of 6 months, etc.
We have a company "redemption agreement" where I
We have a company "redemption agreement" where I use this contact I'm given by my attorney to basically BUY units back from my employees.In this situation, Im buying back about half of my one employee's units. In the contract, there is a GENERAL RELEASE clause that says the following style things:"The individual forever and knowingly acquits Company of any claims, demands, etc., and that this clause doesn't apply to any matter with the Company's obligations under this general release agreement."We leave this in for FULL redemptions when an employee is leaving the company. But, is it wise to take this OUT of my contract if it's a partial redemption and my employee is still staying with me? Can we have them waive these things if they continue to work with us, and should we leave it in?
I'm trying to buy this property in the Clark County auction
I'm trying to buy this property in the Clark County auction here in Las Vegas, and the has a Recorded document "Notice of Pending Action" recorded by the Owner about 3years ago before the property going to the auction.JA: OK. The Lawyer will need to help you with this. Because laws vary from state to state, could you tell me what state is this in?Customer: NevadaJA: Have you consulted a lawyer yet?Customer: noJA: Is there anything else the Lawyer should be aware of?Customer: noJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.
USAA banking service changed my credit card from MasterCardView more legal questions
USAA banking service changed my credit card from MasterCard to Visa about 2 weeks ago. I called USAA about this change. I was told by 3 different USAA representatives I had $111,580. dollars in reward points. 1 point equals 1 dollar. Each time I called "I said this did not make sense to me, I have over $100,000. to spend on travel." "One point is one dollar that I can spend." My points were NOT on a grid, or scale like they were with MasterCard. I called USAA on 4/1/16 to redeem my Visa Rewards points for traveling and was told 1 point equals 1 penny.All my calls were recorded and on 5/5/16 I was told by a supervisor that they were going to speak to each representative about "... giving me such horrible information" I believe USAA changed the conditions of my Rewards points after noticing their mistake. Do I have a case for having USAA honor the conditions I was first stated?