Contract for Deed

[The Mechanic]

What is the name of your state (only U.S. law)? SD

While we were residents of SD, We elected to purchase a property for contract for deed. After less than one year, I became disabled and could no longer make my payments (directly from paycheck to the owner, on a weekly basis). Due to a family emergency (and other reasons) we moved out of state, No employment, medical problems.

As soon as we arrived to our new residence, we called the owner and told him what had happened, and we could no longer make payments. We ALSO informed him, that he could have the property back no problem, no question.

That was THREE years ago! Now we get served papers for foreclosure and indicating we owe property taxes for above. I want to note, even when we assumed property - the owner was in arrears of property taxes, and we could not pay ANY until his was taken care of FIRST!

I am assuming that the proper paperword was NEVER filed by the owner OR his lawyer. (We recieved a notice 2 1/2 years ago that they were reassuming the property back).

What shall we do now? The owner knew along time ago, yet did nothing. His taxes were never paid that we know of, and he took/sold all personal property left in the home back then..

[HomeGuru]

Originally Posted by The Mechanic

What is the name of your state (only U.S. law)? SD

While we were residents of SD, We elected to purchase a property for contract for deed. After less than one year, I became disabled and could no longer make my payments (directly from paycheck to the owner, on a weekly basis). Due to a family emergency (and other reasons) we moved out of state, No employment, medical problems.

As soon as we arrived to our new residence, we called the owner and told him what had happened, and we could no longer make payments. We ALSO informed him, that he could have the property back no problem, no question.

That was THREE years ago! Now we get served papers for foreclosure and indicating we owe property taxes for above. I want to note, even when we assumed property - the owner was in arrears of property taxes, and we could not pay ANY until his was taken care of FIRST!

I am assuming that the proper paperword was NEVER filed by the owner OR his lawyer. (We recieved a notice 2 1/2 years ago that they were reassuming the property back).

What shall we do now? The owner knew along time ago, yet did nothing. His taxes were never paid that we know of, and he took/sold all personal property left in the home back then..

**A: time to hire an attorney. You would only be liable for taxes from the date of the contract for deed.