Purchase of Property

[John Cully]

I purchased some land in the area of Parry Sound Ontario, Canada.
I put a small amount down and have been paying the monthly mortgage payment since last June. This property has never been logged and part of the conditions of the purchase was that we tell the Real Estate Person and ask permission for us to have it logged.
They have sent a letter stating that we can but
(1)The logging company must identify themselves to the Real Estate people before commencement of any logging.
(2) All funds from the logging must be paid directly to the Real Estate Company

My Question is this
Is this a legal transaction when the logging money is going to exceed the cost of the property.
If this is not legal what is my next step and can I have this Real Estate Company disbarred from ever Operating again in Canada or anywhere else.
This transaction could mean my retirement dreams and I do not feel that this is a proper way to conduct business.

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by John Cully:
I purchased some land in the area of Parry Sound Ontario, Canada.
I put a small amount down and have been paying the monthly mortgage payment since last June. This property has never been logged and part of the conditions of the purchase was that we tell the Real Estate Person and ask permission for us to have it logged.
They have sent a letter stating that we can but
(1)The logging company must identify themselves to the Real Estate people before commencement of any logging.
(2) All funds from the logging must be paid directly to the Real Estate Company

My Question is this
Is this a legal transaction when the logging money is going to exceed the cost of the property.
If this is not legal what is my next step and can I have this Real Estate Company disbarred from ever Operating again in Canada or anywhere else.
This transaction could mean my retirement dreams and I do not feel that this is a proper way to conduct business.<HR></BLOCKQUOTE>

My response:

Can you please quote the exact language of the contract concerning the logging / permission for me?

Thank you.

IAAL



------------------
By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."