Legal Question in Real Estate Law in Indiana

Property purchase

My so has or thought he had purchased a house on land contract. He is 18 years old answered an add for a home which was advertised as land contract/rent to own. This is his first attempt to leave home. He met with the property owner, Scoot at a gas station and gave him some personal information, including SS#. This was supposed to be for a credit check to see if he was worthy of the land contract. After that Scott told Kevin(son) to meet with this guy named Matt in order to sign papers at a Buger King restaurant. This was supposed to be the land contract. Now my son, 18 not knowing what he was doing signed papers, never getting any advice from an adult. He has had second thoughts about the affordability of this venture, finally asked me to look over his contract in order to see how binding it was. When I opened his file, first thing I saw was a title search. Triggering a panicked reaction. Sure enough what he had was a mortage contract, claiming that he applied over the phone. Kevin had never spoken with Matt prior to thier meeting at Burger King. So I am very curious as to how he recieved a loan that was never applied for by him anyway? Is he stuck with this house or has Scott and possibly Matt committed fraud?


Asked on 3/02/07, 11:34 am

1 Answer from Attorneys
C. David DuMond Law Offices of David DuMond

Re: Property purchase

The facts recited in your question don't make sense. So maybe Kevin is an unwilling participant in a fraud scheme. Whenever one buys property or loans money on property, you should get an independent title report and an independent appraisal, so you can see who owns the property, whether it is already mortgaged to the hilt, and how much the property is worth. I suggest you contact the FBI to investigate whether this is an attempt to defraud a mortgage lender. Good luck.

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Answered on 3/02/07, 2:00 pm


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