Legal Question in Real Estate Law in Washington

We loaned a significant amount of money, secured with a note, to an LLC that used the money to purchase real estate, improve and resell or rent. We were paid interest on the loan for 3 years. Then we were told that there would no longer be payments. We asked for our money back and received half of our money in real property. After six months of discussion and negotiations we were informed that the other half of our loan would not be paid back because the holder of the loan did not want to "be beholden to us any longer." We discovered that the money was taken out of the properties through second mortgages and used for other purposes.

Is a deliberate breach of contract illegal?


Asked on 11/13/10, 10:49 pm

1 Answer from Attorneys
Christopher Steuart IT Forensics, Inc.

Yes, a deliberate breach of contract is a civil wrong. In general, not wanting to be beholden to us (you) any longer does not exonerate the debt. You should consult with an attorney sooner rather than later,

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Answered on 11/20/10, 4:44 pm


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