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!
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