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| Business Contracts & Partnerships Oral and written contracts, corporate partnership, partnership agreements, transactions, disputes, litigation, etc. |
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#1 |
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i was near paying off a mobile home when the lien holder told me i was in default my father in law offered to loan me the money and went and paid it, now my father in law wants em to sign a huge contract after the fact including many things that will let him take my home if i fail to do any one of them, and if i don't he said he will let the orginal lien holder reposses the home and get his money back from him later is this legal?
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#2 |
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May you should sign the contract that your father-in-law is asking you to sign. Then you will still have your home. Many times family members enter into a verbal or written contract and think that just because they are family they do not have to honor the contract. Sometimes family members will not enter into a contract for this same reason. However, they will make a similar contract with a strager or company. I am experiencing a similar situation with my daughter. I am out of $100,000 and my home which I sold to get the $100,000. Because she is family, she is not offering any solutions for me to get the money back or to enter into our agreed contract.
Whatever you decide, your father-in-law should be treated the same as if you were borrowing the money from a bank or some other lending institution. I hope you understand my points. |
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