Legal Question in Real Estate Law in Texas

Breach of Contract

I am attempting to sell an investment property. The lien holder (individual) will not sign a release until all of the interest that would have been earned for the remainding time on the contract is paid (approximately $450.00). The title company provided a copy of the original contract to the lien holder in which it is stipulated that there will not be any prepayment penalty and that prepayment can be done at any time. In order to not jeopardize the sale, I paid the $450. What recourse do I have.


Asked on 3/22/01, 11:58 am

1 Answer from Attorneys
Joseph A. McDermott, III Attorney at Law

Re: Breach of Contract

You could sue the leinholder for usury (collection of excessive interest), perhaps. you almost certainly can sue for breach of contract. Under texas law, you can make demand for your money; if refused, you cna recover your attorneys fees as well as the $450.00, IF you win.

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Answered on 5/29/01, 3:49 pm


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