Legal Question in Real Estate Law in Indiana

My parents have a home that they sold on contract. After 2 years into the contract, the buyer stopped making payments. Eventually, the buyer filed bankruptcy; however, in the middle of this he decided to sell the house and had a new buyer in line. The bankruptcy drug everything out and eventually the new buyer was lost due to changes in his credit. My question is now what can my parents do? Can they take the house back or do they have to continue to sit by as a bystander while the original buyer tried to sell it again? Also, what legal action can my parents take to make the original buyer begin making payments again - he has not made a payment since August 2015.


Asked on 2/18/16, 9:24 am

1 Answer from Attorneys
Jay Rigdon Rockhill Pinnick LLP

Your parents should take the contract and a list of payments made, with dates, to an attorney in their community. That lawyer can then advise them on what they can do, once given that information. No attorney can give them guidance in this forum without having that information available.

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Answered on 2/18/16, 10:55 am


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