Legal Question in Real Estate Law in Florida
Contract for Deed
In regard to rental property, a Co-Tenancy Agreement which by it's specified wording was no more than a "Contract for Deed" was entered into by myself and the Tenant/prospective buyer. And only a "Memorandum that such an agreement existed, was recorded. A Demand note was executed by the Tenant payable on demand to the Landlord/Seller as a guaranty that all provisions were fulfilled.
The tenant vacated the property in the middle of the night, and therefore defaulted and made the contract null and void.
However, the Tax Appraiser in the County in question, has interpreted the recorded memorandum as a transfer of title. The property was sold approximately three years ago and because of this, they are claiming that it has NO CLEAR TITLE. How can this be economically corrected?
I would appreciate any help you can give me in this matter.
Sincerely,
2 Answers from Attorneys
Clearing title on contract for deed
An agreement to sell a piece of property createsan equitable interest in the buyer and creates a cloud on title. The two most common methods ofclearing title are bringing a foreclosure action or quiet title action. What you have describedsounds like quite a mess and will probably requirethe services of a knowledgeable real estate attorney.
Fla. Contract for Deed -Title Mess
They are claiming that the property has NO CLEAR TITLE. How can this be economically corrected?
The answer to your specific question is, it can't. Apparently you acted as your own lawyer and made a mess as described by Mr. Randall Reder. I agree that it will take either a foreclosure, quiet title, or declaratory decree lawsuit.
If you gave a Warranty Deed when you sold the property, you can be sued under the warranties contained in the deed. You need to contact an attorney.
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