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I entered into a Contract for Deed for 30 acres of land in…

I entered into a...

I entered into a Contract for Deed for 30 acres of land in Johnston County, Oklahoma. It states I make a monthly payment of $1000.00 each month until my home in Jacksonville, Texas is sold upon which time a balloon pay meant is made. I hold a warranty deed which is recorded at the courthouse. I have also paid last years taxes because the seller didn't and I will pay this years as well. The seller is now wanting to cancel the contract. Is he able to do that?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Oklahoma

Lawyer's Assistant: Has any paperwork been filed?

The deed has been filed

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Is the contract that both the seller and buyer signed as well as the deed being recorded in my name, has the seller any legal option at this point to void the contract. There was not a closing date stated other than the completion of my homes sale. I is currently listed with an agent in Texas.

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Answered in 4 minutes by:
10/11/2017
socrateaser
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 40,074
Experience: Attorney and Real Estate broker -- Retired
Verified

Hello,

Unless you have violated the terms and conditions of the agreement, the seller cannot rescind the contract. Attempting to do so would be a breach of contract and you can sue the seller for any damages you suffer as a consequence.

You state that you hold a warranty deed for the property. If true, then that would operate to merge the contract for deed, and thereby elimijnate its provisions entirely, and you would be the sole owner under lawful title.

I may be missing something in this scenario, but from what you describe, there is no longer any contract for deed, as a matter of law -- and you are the outright owner of the property.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

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Customer reply replied 9 months ago
Thank you. Your answer was my take on everything. We have abided with all the provisions in the contract. Again thank you for the information.

You're welcome and thanks for using Justanswer!

socrateaser
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 40,074
Experience: Attorney and Real Estate broker -- Retired
Verified
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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