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.

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Answered on 2/24/03, 12:12 pm


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