or the buyer wait to file suit against me? Is it one year? They know I am planning on filing bankruptcy, and I am afraid I will have to wait until they file to start my bankruptcy
Unless the language of the contract imposes a waiting period or some other restriction against bringing an action to enforce the sales contract, they need not wait at all. On the other hand, in Ohio, a party has 15 years within which to bring a lawsuit for breach of a written contract. Therefore, the law does not require that they immediately file their suit against you. You should consult with your bankruptcy counsel to determine how this potential lawsuit may impact your bankruptcy petition and whether these contract claims may be dischargeable in bankruptcy.See question
10 days before the start of a new lease agreement for a home that i have and decided to rent out, I find out the soon to be tennants for my house are not moving in because the guy did not get in the school he wanted. We all signed a lawyer writte...
In Ohio, lease agreements are treated like any other contract. A tenant who signs a lease agreement is obligated to honor the terms of the lease. If the lease agreement includes specific provisions for early termination then you are entitled to the remedy set forth in the lease. However, as with any claim for breach of contract, you have a duty to mitigate your damages. The duty to mitigate, in this case, would require you to undertake some effort to re-rent the property. Depending on the provisions in the lease agreement, the tenant may be liable for the lost rent while the home is vacant and the costs reasonably and necessarily incurred to re-rent the home.See question