Process to cancel a Contract for Deed by owner in FL for non payment

[bhave55]

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

I have a similar but different situation. Occupants are purchasing mobile home and property under a contract for deed. They agreed to pay taxes and ins. at end of year now say they cannot, it was part of the written agreement. So they are only paying principal and interest. they have not signed a promissory note for taxes and insurance that would include interest and state they are unable to pay (though the contact specifies they will pay taxes and ins. to myself, the owner). I will be loosing money if they do not make payments on the loan and without a valid notarized promissory note on the taxes and insurance, I have no way to recover. I must ask them to pay at once or if not, be in default on the contract and cancel the contract for deed.
Please advise on how to legally do that cancellation and also, if I then have to evict them if they will not go. The contract calls for a conversion to lease agreement (which they have signed) and rent that is more than the purchase price, so I believe eviction is the necessary and legal route but I wan to make certain.

Thank you all very much!

 

[Ohiogal]

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

I have a similar but different situation. Occupants are purchasing mobile home and property under a contract for deed. They agreed to pay taxes and ins. at end of year now say they cannot, it was part of the written agreement. So they are only paying principal and interest. they have not signed a promissory note for taxes and insurance that would include interest and state they are unable to pay (though the contact specifies they will pay taxes and ins. to myself, the owner). I will be loosing money if they do not make payments on the loan and without a valid notarized promissory note on the taxes and insurance, I have no way to recover. I must ask them to pay at once or if not, be in default on the contract and cancel the contract for deed.
Please advise on how to legally do that cancellation and also, if I then have to evict them if they will not go. The contract calls for a conversion to lease agreement (which they have signed) and rent that is more than the purchase price, so I believe eviction is the necessary and legal route but I wan to make certain.

Thank you all very much!

You need to hire an attorney quite frankly. Real property is involved and there are various steps that needed to be taken. Is the contract for deed filed with the proper county department? You may have to engage in a foreclosure.

 

[bhave55]

contract for deed

Hi, The contract for deed is not filed with the county at the present time. It is actually just a few months since we entered into the agreement. If the contract for deed refers to cancellation for non-payment and it specifically says that the agreement reverts to a standard rental agreement (which I have filled out and signed by the parties), I assume that eviction would be the correct course of action?
I will consult an attorney if need be of course, just want to get my bearings on it first if possible so I can
alert the occupants of the consequences they are potentially facing.
thank you

 

[Ohiogal]

Hi, The contract for deed is not filed with the county at the present time. It is actually just a few months since we entered into the agreement. If the contract for deed refers to cancellation for non-payment and it specifically says that the agreement reverts to a standard rental agreement (which I have filled out and signed by the parties), I assume that eviction would be the correct course of action?
I will consult an attorney if need be of course, just want to get my bearings on it first if possible so I can
alert the occupants of the consequences they are potentially facing.
thank you

You are in over your head. No really. You are. You may not have done this at all correctly and need an attorney to review everything to guide you. No one here can read the contract and determine if it is binding or if it conforms to state law. They are facing foreclosure possibly or eviction or you refunding them money or various other things depending on the contract. Cancellation for non-payment may not be able to be upheld. You need to consult with a real estate attorney who can review everything.