So what options are available to the buyer and seller who find themselves in such a situation in a Land Contract?

Typically, the Land Contract document itself states specifically what rights and recourse is available under that contract, so read it carefully. Usually, the seller’s recourse for an unfulfilled payment on contract is either to retake possession of the property and then find a new buyer/tenant, or to treat the existing contract as a rental agreement going forward and to consider all past payments made as rental payments.

Of course, a buyer or seller can always attempt to renegotiate the Land Contract, as it may be worthwhile in such a market for both parties to extend the existing contract until the market recovers. That gives both sides time.

But neither party is required to do so, especially on a Land Contract written to the benefit of the seller.

To easily create an affordable Contract for Deed document that is fair to both buyer and seller, see Standard Legal’s Land Contract legal forms software.

Want professional help creating such a contract? See Standard Legal’s Document Preparation Service for Land Contracts.

Such an act could be considered fraudulent, would easily be determined to be the same person using a different name by any competent attorney, and an ethical notary would never validate a dual signature made by the same person on the same document.

To determine legal strategies for impending lawsuits, it’s always best to discuss the situation with a qualified attorney. To find a local attorney for FREE, visit Standard Legal’s Attorney Find page.

And most times, the terms of that written contract will control the obligations of the parties, regardless of what one party or the other “meant.”

However, if a party can prove that the written terms of a contract contains a clear mistake and that both parties were aware of that mistake, then that party may argue to a court that the contract should not be enforced as written, but as was intended to be written.

But this is a difficult argument to make in any court, and is often not successful.

As such, in the majority of situations, what is written in a contract is what the parties are obligated to perform.

The Means Test calls for a calculation of the average of all household income for the six month period prior to the month in the case is filed.

If the debtor is married but filing individually, the debtor must include his or her spouse’s income in the calculation.

That does not mean, however, that the Trustee can sell the spouse’s property; the trustee cannot.  The non-filing spouse’s income must be included to determine whether the filing spouse qualifies for a Chapter 7 bankruptcy under the means test, or if another remedy is required.

For complete forms and instructions on creating a personal bankruptcy filing, see Standard Legal’s Bankruptcy legal forms software.

As the phrase implies, if the person who purchased property cannot afford to make the mortgage payments to the lender or seller, the mortgage holder may agree to accept ownership of the property “in lieu of” proceeding with a foreclosure lawsuit through the court system.

An agreement between the parties is required before the transfer of the property is made in lieu or instead of the legal foreclosure process.

The parties can also agree to an arrangement whereby all or a certain portion or percentage of the amount owed by the person transferring the property is forgiven in exchange for the transfer of the property.

These agreements are generally in writing, but do not need to be.

Once the agreement is reached, the person transferring the property does so via a quitclaim or warranty deed. For an affordable way to create said Deeds, see Standard Legal’s Quitclaim Deed legal forms software.

But if the new Will was not provided to the Probate Court to settle the estate immediately after the passing of the maker, there are options.

If the first Will has already been probated, the beneficiaries under the second Will may be permitted to challenge that probate process.

But an experienced attorney should be consulted about the specific rights and obligations of all involved, as such litigation can be complex. You can find a local attorney for FREE at Standard Legal’s Attorney Find page.

But each court can call this application or form something slightly different.

Simply call the Probate Court in your local county and ask the Clerk for the form to initiate a probate proceeding. The clerk should be able to provide the form to you, or point you to a website where you can download it.

However, if a Promissory Note was signed by the Maker and some consideration was provided for the note (e.g. there was a loan or other indebtedness), then the Note may be enforceable as written.

The LLC should always enter into contracts in its own name (and not the names of the individual members), should have its own bank accounts, should keep its funds separate from those of the members, and should conduct business under the LLC name.

If these steps are taken, any obligation of the LLC should be limited to the LLC and the members should be insulated from such liability. This does not mean that the members will not be named in a lawsuit, rather that the court should find that the members are not liable for the LLC obligations.

Note, however, that if a member personally guarantees the debts of the LLC, co-signs with the LLC, or takes action in his or her personal capacity rather than as a member or manager of the LLC, the member could be subject to personal liability.

This information applies to all USA states; the state in which the filing is made does not change the above information.

To quickly and easily create a Limited Liability Company, see Standard Legal’s LLC legal forms software page.

For advice specific to any personal legal questions, Standard Legal always recommends you consult an attorney; you can find a local attorney for FREE at Standard Legal’s Attorney Find page.

Instead of employing the language “A and B, for their joint lives, remainder to the survivor of them,” the language must be revised to “A & B, as tenants by the entirety.”

Note that this type of ownership structure is not common, which is why Standard Legal does not offer it as a standard option within the Deeds package (to avoid confusion).

Learn about all of the options that are available at Standard Legal’s Quitclaim Deeds legal forms software page.

Instructions on modifying the baseline content of any title can be found under “HOW DO I CHANGE / CUSTOMIZE THE BASELINE CONTENT OF THE FORMS?” at the Forms Use FAQs page.