Legal Question in Real Estate Law in Minnesota
charge for late installments on a Contract for Deed
I need the percentage the Minnesota Contract for Deed Law provides for Late payments made on the agreed upon Contract.
I also need the code#'s or identifying info for that Law.
Thank You
Asked on 2/24/03, 1:04 am
1 Answer from Attorneys
David Kelly-952-544-6356
Kelly Law Office
Re: charge for late installments on a Contract for Deed
I don't know of any percentage. The only requirement I know of is that such a penalty be reasonable. If I were you I'd state it in terms of an amount, not a percentage. But keep it low.
Good luck.
This response is for general information purposes only and does not create an attorney-client relatiohsip. You are advised to consult the attorney of your choice concerning the details of your case.
Answered on 2/24/03, 12:12 pm