Seller Financing Default, when do you have to file suit?
Seller financing is common in today’s Real Estate Investment Environment.
This case determines when a Seller has to file suit after a buyer defaults on the promissory note.
Listen to learn if suit must be filed at the time of default, or can the seller wait until the end of the note term to declare a default? The court addressed what is “reasonable.”
Another important issue dealt with whether the entity was liable or the trustee in his individual capacity. See James R. Stroud, Heartland Homestead, LLC and Heartland Land Trust v. Thomas J. Stone, 18A-CC-1722. Enjoy!
Share This With Your Fellow Business Partners!
TALKING ABOUT YOUR ESTATE, REAL ESTATE OR BUSINESS IS NO SIMPLE MATTER.
We Know How To Look At Your Case, Let's Talk Today!
WEBSITE USE AND DISCLAIMER. By using this site, the User understands and agrees that Attorney Jeffrey J. Jinks is licensed only in the State of Indiana and information on the site may not be valid in other jurisdictions. All information is for information purposes only and is not legal advice to the user.
No attorney client privilege or relationship is created by the use of the site or the transmission and receipt of information without an express agreement between the user and Attorney Jeffrey J. Jinks. The information on the site should not be relied on, and the user should take no action, nor refrain from taking action, without first seeking legal or other professional advice for their specific situation. Do not send confidential information through this site, nor through email.
Any links to other sites are intended as possible aids to the user and are not intended or implied that the firm sponsors, is affiliated or associated with, endorses or is legally authorized to use any any trade name, mark, logo, seal or copyrighted symbol that may be reflected in the links. Those sites are not under the control of Attorney Jeffrey J. Jinks and he is not responsible for the content on or through those sites.
The information on this site may not reflect the most current legal developments, verdicts, case law, code revisions, regulatory updates, private letter rulings or other changes in the law and is not guaranteed to be correct, complete or up to date. The information on this site should not be taken as a promise, guarantee or indication of future results or benefits.
IRS CIRCULAR 230 NOTICE. We are required by Treasury Regulations (Circular 230) to inform you that, to the extent that this communication concerns federal tax issues, this communication (including links, attachments and enclosures) was not written or intended to be used, and cannot be used, for (1) avoiding federal tax penalties, or (2) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
WEBSITE USE AND DISCLAIMER. By using this site, the User understands and agrees that Attorney Jeffrey J. Jinks is licensed only in the State of Indiana and information on the site may not be valid in other jurisdictions. All information is for information purposes only and is not legal advice to the user.
No attorney client privilege or relationship is created by the use of the site or the transmission and receipt of information without an express agreement between the user and Attorney Jeffrey J. Jinks. The information on the site should not be relied on, and the user should take no action, nor refrain from taking action, without first seeking legal or other professional advice for their specific situation. Do not send confidential information through this site, nor through email.
Any links to other sites are intended as possible aids to the user and are not intended or implied that the firm sponsors, is affiliated or associated with, endorses or is legally authorized to use any any trade name, mark, logo, seal or copyrighted symbol that may be reflected in the links. Those sites are not under the control of Attorney Jeffrey J. Jinks and he is not responsible for the content on or through those sites.
The information on this site may not reflect the most current legal developments, verdicts, case law, code revisions, regulatory updates, private letter rulings or other changes in the law and is not guaranteed to be correct, complete or up to date. The information on this site should not be taken as a promise, guarantee or indication of future results or benefits.
IRS CIRCULAR 230 NOTICE. We are required by Treasury Regulations (Circular 230) to inform you that, to the extent that this communication concerns federal tax issues, this communication (including links, attachments and enclosures) was not written or intended to be used, and cannot be used, for (1) avoiding federal tax penalties, or (2) promoting, marketing, or recommending to another party any transaction or matter addressed herein.