Legal Question in Real Estate Law in Tennessee
Understanding Contract for Deed
I have a very similiar situation to singular or plural. My sister and I inherieted a piece of land. We are still bound by the original contract for deed as the original buyer (my parents). It also stipulates a maintenance fee for the Buyer or successor (singular) but the last paragraph in ours brings it all together with the plural form of the words stating '' This contract and the agreements and covenants herin set forth shall be binding upon and enure to the benefit of the parties hereto, their heirs, assigns, successors and personal representatives and said provisions of this contract shall survive the closing of this transaction''. Are we in a simular situation where the charge is for the unit or does the above paragraph validate being charged twice (each of us paying the full fee)? Do these type of contracts for deed go from owner to owner forever?
2 Answers from Attorneys
Re: Understanding Contract for Deed
You and your sister own the property as tenants in common, meaning in indivision. You cannot be charged twice for the fee.
Re: Understanding Contract for Deed
I cannot advise on TN law, but chances are you only pay once. Please restate your second question.
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