Can you sell a house held in trust?
What is the name of your state? Arizona
Seller accepted my offer on his house and we agreed to draft a lease/option contract. I then gave him a check for $2,000 as deposit and he signed an acknowledgement stating that the money would be returned to me if we hadn't exercised the sales contract by a certain date. (This "I.O.U." stated address, selling price etc.) He never completed the draft and the date passed without a sale. I am now preparing to take him to Small Claims Court.
In doing research, I have discovered that the house was put in trust in 1991 (beneficiary is former owner and he was behind in payments). It was not reconveyed until Aug. 2005, seven months after the final date of sale in our agreement. Did he have the right to sell me a house that was in trust? Is this fraud as former owner was aware of our negotiations and both said he was the one with the right to sell?
Should I include this new info in my small claims case? Should I move into civil court?
What is the name of your state? Arizona
Seller accepted my offer on his house and we agreed to draft a lease/option contract. I then gave him a check for $2,000 as deposit and he signed an acknowledgement stating that the money would be returned to me if we hadn't exercised the sales contract by a certain date. (This "I.O.U." stated address, selling price etc.) He never completed the draft and the date passed without a sale. I am now preparing to take him to Small Claims Court.
In doing research, I have discovered that the house was put in trust in 1991 (beneficiary is former owner and he was behind in payments). It was not reconveyed until Aug. 2005, seven months after the final date of sale in our agreement. Did he have the right to sell me a house that was in trust? Is this fraud as former owner was aware of our negotiations and both said he was the one with the right to sell?
Should I include this new info in my small claims case? Should I move into civil court?
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