Legal Question in Real Estate Law in Louisiana

In the year 2000 I entered into a lease to purchase of a mobile home I am the leasor. Myself and the seller signed a document stating I would pay the note on the mobile home every month of 226.00. the sales price on this document that is notarized and I do have in my possesion states the sales price of this mobile home to be $22,500. In 2006 I asked for a payoff amount of the mobile home and the seller told me over $16,000 was still owed on the account. Bells and whistles I thought she had refinanced or taken a loan against it, this was not the case when I entered into the agreement she owed about $50,000 on the account. I felt like there was nothing I could do because of my own ignorance of not finding out these things before entering into the agreement. My question is this: If I were to take her to court even though money is still owed on the home in her name would it be possible I could keep the home at this time I have paid $29,768, would it be possible a judge could award me the property at the sales price that was agreed upon even though she actually owed more than that to the finance company.

Asked on 3/15/11, 2:56 pm

Martha Amanda Mandi Lucas Mandie Seale Lucas

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The lien on the property will not allow clear title to pass until the debt is repaid and the creditors lien released.

Answered on 3/15/11, 6:16 pm

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