Can you not do a forfeiture and attach the unfiled contract to the
notice and affidavit of forfeiture?
From:
realestate-owner@iabar.org [mailto:realestate-owner@iabar.org] On Behalf Of Dustin
Smith
Sent: Monday, June 21, 2010 4:06 PM
To: realestate@iabar.org
Subject: [ISBA RealEstate] Real Estate Contract
A
residential real estate contract is signed but never acknowledged in
2008. The contract was never recorded. Contract buyer quit paying
the installment payment in January 2010 and has moved out. Contract
seller turned the property over to the bank to avoid foreclosure. Bank
now wants to sell/rent the place out.
I
can’t forfeit the contract because it was never recorded (558.46.3) plus Bank
doesn’t want to incur the potential late recording fine from the County
(558.46.2). I can’t record the contract now because it was not
acknowledged (558.42).
Thoughts?
Dustin D. Smith
Smith Law, P.C.
317 6th Avenue, Suite
700
Des Moines, Iowa
50309
515-226-8379 phone
515-243-2433 fax
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