My question involves collection proceedings in the State of: Louisiana
My mother lives in LA and I am in Ca. Her rental home is on the market; the Realtor contract is up in March. I need to prepare a promissory note - to protect against siblings' primarily - and would like the following. I agree to pay her mortgage each month until the house is sold at which time she will repay me in lump sum from the proceeds of the sale. How to word this in order to close any loopholes?
I'm considering sending her the money each month. Obviously, we have no idea how long it will take to sell the house. Should I make a payment for the 3 months, then once Realtor's contract is up, redo another contract?
Thanks so much for your help.
~ jkcproject
My mother lives in LA and I am in Ca. Her rental home is on the market; the Realtor contract is up in March. I need to prepare a promissory note - to protect against siblings' primarily - and would like the following. I agree to pay her mortgage each month until the house is sold at which time she will repay me in lump sum from the proceeds of the sale. How to word this in order to close any loopholes?
I'm considering sending her the money each month. Obviously, we have no idea how long it will take to sell the house. Should I make a payment for the 3 months, then once Realtor's contract is up, redo another contract?
Thanks so much for your help.
~ jkcproject
Loan Agreements: Contract to Pay Mortgage Until Sale
0 commentaires:
Enregistrer un commentaire