Legal Question in Real Estate Law in Indiana

Details : Found a home that was for sale by owner(s). Primary Owner stated terms (120 monthly pymts of 850 and 3000 cash upfront) and then they deed the house over even stated that they would pay the closing cost. Simple or so I thought. we signed contract with the primary owner expecting to get a copy after the other owner signed it shortly after we moved in and we got it. (love the house) A couple of moths ago we recieved a call from the other owner (2nd of the month pymt due on the first) stating that if we didn�t make the pymt the next day they would start eviction proceedures. I am on ssdi so my check was late but the next morning I made the payment to the primary owner and asked why the other guy was being such a jerk and expressed to him how I didn�t appreciate the call. (this was april) On June 2nd I called them to let them know that I had a family emergency and the pymt would be late BUT that I would pay late fees. He stated that they would not accept the late fees and would be initiating eviction in the morning. I pulled out my contract and went to thelate payment section that stated what the late fees would be and called him back. My question was If you don�t accept late fees WHY does the contract stipulate how much the late fees are? He restated that they were going to evict us for being late. Later while searching to see if they legally could do that I noticed that there was a HUGE difference in what the law states he could do on a Deed for Purchase as opposed to a lease with option and then I noticed on the front page of the copy that it was a lease with option. BUT the "4 corners of the contract" are that of a land contract. NOTHING that is elemental in a Lease with Option is in my contract. All of the elements of a land contract are in my contract. What can I do? I surely would not have gone into a lease with option as I know too many people that have gotten burned by them. I cannot prove it but I don�t recall that first page stating it was a lease with option.HELP!!


Asked on 6/13/13, 9:14 am

1 Answer from Attorneys
Jay Rigdon Rockhill Pinnick LLP

You have to give the document to an attorney to read to answer these questions. No responsible attorney can give you an opinion without this. If you want to protect your investment you need to pay someone to do this.

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Answered on 6/13/13, 1:45 pm


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