Legal Question in Real Estate Law in South Dakota
quick claim deed
A business was sold to two persons, contract for deed. They are delinquent on payment. One has signed a quick claim deed to the other to get out of the contract. The original owner(who issued the CFD) was not notified. Is this legal?
There is no real estate involved, just a restaurent business with all equipment.
Asked on 1/16/03, 6:33 pm
1 Answer from Attorneys
Jim Craig
Craig Law Office
Re: quick claim deed
No. Assigning an interest in a contract for deed should have no effect on assignor's liability under the original contract for deed, unless that contract expressly permitted the assignment without the consent of the seller. (Highly unlikely.)
Answered on 1/17/03, 10:29 am
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