Legal Question in Real Estate Law in Indiana

I am putting a note on my house for a debt that is conditional.

I need to know if this will be worded correctly as to be binding to protect myself and the other party.

I (my name) on this day of december 14th 2006 agree to pay (other partys name)$25000 for her assistance in the sale of my home to (3rd partys name)This debt will be null and void if (3rd party) does not purchase the house located at (property address) before the date of 1-6-2006.

Then i will have it notorized and recorded at the county recorders office. I want to be sure that I will not owe 25000 if her part of this deal does not come through.


Asked on 12/14/06, 12:50 pm

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

Re: I am putting a note on my house for a debt that is conditional.

You should cheerfully spend the money to confer with a real lawyer in person about the legal effect of your proposed note. I wonder why you are doing this, anyway? It sounds scammish. I take it the third person is not a real estate agent entitled to a sales commission. Twenty-five thousand dollars sounds like a lot of money to pay for jack-leg representation in a sales closing, where you could end up losing more than you gain. Find a lawyer experienced in real estate transactions. Call your county bar association for a referral. Good luck.

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Answered on 12/14/06, 4:55 pm


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