All Topics / Help Needed! / 10% paid, not settled yet after 3 months.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of Curious_Curious_
    Participant
    @curious_
    Join Date: 2004
    Post Count: 28
    September 19, 2007 - 2:05 am

    Hi all,

    My mate recently bought a deceased estate. After 6 weeks, the vendor wasn't in a position to settle because of some legal reason to do with the childrens' will of their parents' house. Because he was desperate to renovate before getting married, he agreed to pay $150 a week rent to get hold of the property even though they haven't settled yet.

    Question now is, is it at all possible for the other party to change their minds about the sale, in the case that a legal issue cannot be (or will take a long time to be) resolved in court?

    Thanks,
    Michael.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 19, 2007 - 3:27 am

    If he has a signed contract with all the conditions fulfilled, then I believe the other party cannot pull out without penalty.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.