My land contract is due up and My land lord cant sign another one because his property assets have been frozen due to a lawsuit

Asked 12 months ago - Hillsdale, MI

if a home is co owned by two people and one of them is under investigation in a lawsuit and his property assets have been frozen what happens to the other co owners share of the properties? is he allowed to continue land contracts to people who are purchasing the homes before the lawsuit ever happened? My land contract is up and we are suppose to be signing another contract but cant because he doesnt know wether he will be in trouble for it. the property deed is in his and his sons names. would he be allowed to sign a continuence to our previous land contract aggreements? his son has nothing to do with the lawsuit but he is owns the property too would he be allowed to continue the landcontract without his dad being on it? i dont want to lose my home and i need a legal contract to continue

Attorney answers (4)

  1. Timothy A. Dinan

    Contributor Level 13

    5

    Lawyers agree

    Answered . Your interests in the home seem to be tenuous according to the facts you have presented. Given the importance of the property, you need a lawyer to review your rights and see what can be done to renew or extend you. Rights under a land contract. This is a problem where you really want to hire a lawyer.

    The answer to this question does not constitute legal advice nor does create a client relationship with the... more
  2. James P. Frederick

    Contributor Level 20

    2

    Lawyers agree

    Answered . This is a duplicate of your earlier question. You should discuss with an attorney to determine how best to proceed. The attorneys involved in the lawsuit may decide that it is in everyone's interest for your contract to continue. You could also refinance and pay off the contract.

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******... more
  3. William D. Serwer

    Contributor Level 9

    1

    Lawyer agrees

    Answered . Follow the advice of the others and retain counsel. This issue needs more information to be evaluated.

    This reply is for general information purposes only and should not be relied upon as legal advice by a lawyer to a... more
  4. Joseph Franklin Pippen Jr.

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . You need an attorney to negotiate the continuance of your contract.

    The answer given does not imply that an attorney-client relationship has been established and your best course of... more

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